Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against Bybit−0.132%7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$355as in the Funding arb table

Net, price: spread back to 7d avg − costs−$387as in the Price arb table

costs, in and out, $10k−$3663.663% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.132%, 7d avg +0.072%

Together, before fees+0.250%+$25 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 0.204% cheaper against Bybit than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1510	0.0100	pay 0.0050% / 4h	3h 30m	$1.1M	$949K	25x
Short	KuCoin IOUSDTM	0.1508	0.0100	get 0.0050% / 4h	3h 30m	$384K	$661K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → +0.072%: −$20.41
Slippage, 4 orders: −$343.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$386.67
Costs to cover: 3.663%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 13 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 Bybit live order book, 1 min ago	6.63 bp	88.2 bp −$88	930.7 bp −$9,307	doesn't fit	doesn't fit
Sell KuCoin live order book, 13 min ago	10.05 bp	114.8 bp −$115	550.9 bp −$5,509	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	0.1512	+0.099%	$1.0M	$411K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1510	+0.028%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1512	+0.132%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1510	long leg	$1.1M	$949K	25x
Gate IO_USDT	+0.0100%	4h	0.1510	−0.007%	$232K	$551K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1511	+0.066%	$1.1M	$240K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1508	−0.132%	$384K	$661K	50x
Bitget IOUSDT	+0.0100%	4h	0.1512	+0.132%	$1.4M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1509	−0.066%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1508	−0.134%	$30K	$5K	—	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	0.1511	+0.079%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0156%	4h	0.1508	−0.132%	$191K	$32K	50x	as long as short
Kraken Futures PF_IOUSD	+0.0170%	1h	0.1515	+0.299%	$39K	$21K	10x	as long as short
Injective IO/USDC PERP	+0.0510%	1h	0.1504	−0.397%	$2K	$102	5.5x	as long as short