Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bitget0.000%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2272.268% of the position

Long on Bitget 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)−0.155%−$15 · spread now 0.000%, 7d avg −0.064%

Together, before fees−0.163%−$16 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 0.064% dearer against Bitget than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1501	0.0100	pay 0.0050% / 4h	2h 41m	$1.3M	$1.2M	50x
Short	KuCoin IOUSDTM	0.1501	0.0100	get 0.0050% / 4h	2h 41m	$358K	$683K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.064%: $6.4
Slippage, 4 orders: −$202.81
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$220.41
Costs to cover: 2.268%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; KuCoin: live order book, 72 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 Bitget live order book, 5 min ago	6.64 bp	47.5 bp −$48	288.8 bp −$2,888	doesn't fit	doesn't fit
Sell KuCoin live order book, 72 min ago	6.60 bp	63.0 bp −$63	377.3 bp −$3,773	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	0.1502	+0.040%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1501	+0.033%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1501	+0.013%	$3.0M	$6.7M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1499	−0.140%	$1.1M	$913K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1500	−0.093%	$234K	$541K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1500	−0.067%	$1.1M	$228K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1501	0.000%	$358K	$683K	50x
Bitget IOUSDTlong	+0.0100%	4h	0.1501	long leg	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1501	0.000%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1499	−0.149%	$30K	$11K	—	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	0.1501	−0.009%	$2K	$131K	5x	as long as short
BloFin IO-USDT	+0.0158%	4h	0.1508	+0.466%	$193K	$33K	50x	as long as short
Injective IO/USDC PERP	+0.1587%	1h	0.1509	+0.533%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1881%	1h	0.1497	−0.295%	$39K	$18K	10x	as long as short