Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.067%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2462.458% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.067%, 7d avg +0.011%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.056% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IO-USDT	0.1492	0.0100	pay 0.0050% / 4h	1h 54m	—	$1.3M	—
Short	KuCoin IOUSDTM	0.1493	0.0100	get 0.0050% / 4h	1h 54m	$350K	$194K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee KuCoinbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.011%: $5.64
Slippage, 4 orders: −$223.83
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$240.2
Costs to cover: 2.458%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; KuCoin: live order book, 65 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 6 min ago	10.02 bp	24.8 bp −$25	67.3 bp −$673	479.2 bp −$47.9K	657.0 bp −$328.5K
Sell KuCoin live order book, 65 min ago	6.71 bp	92.0 bp −$92	546.7 bp −$5,467	doesn't fit	doesn't fit

IO on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid IO	+0.0100%	1h	0.1494	+0.114%	$993K	$272K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1492	+0.007%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1493	+0.073%	$3.0M	$5.2M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1491	−0.067%	$1.1M	$698K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1493	+0.094%	$228K	$464K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1492	0.000%	$1.2M	$224K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1493	+0.067%	$350K	$194K	50x
Bitget IOUSDT	+0.0100%	4h	0.1494	+0.134%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1492	long leg	—	$1.3M	—
Variational Omni IO	+0.0100%	4h	0.1492	−0.017%	$30K	$20K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1493	+0.093%	$4K	$220K	5x	as long as short
BloFin IO-USDT	+0.0122%	4h	0.1493	+0.067%	$192K	$37K	50x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1499	+0.469%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8780%	1h	0.1487	−0.355%	$38K	$7K	10x	as long as short