Funding arb · Price arb /

OP

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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 +0.008%

Price spread now: KuCoin against Bybit+0.070%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$830.825% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days−0.092%−$9 · spread now +0.070%, 7d avg +0.007%

Together, before fees−0.073%−$7 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 0.063% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPUSDT	0.1279	0.0100	pay 0.0100% / 8h	41m 48s	$18.6M	$25.7M	75x
Short	KuCoin OPUSDTM	0.1280	0.0100	get 0.0100% / 8h	41m 48s	$2.9M	$7.4M	75x

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 +0.070%Rate

Funding earned: $0
Price spread: +0.070% → +0.007%: $6.34
Slippage, 4 orders: −$59.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.21
Costs to cover: 0.825%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 1 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, 2 min ago	0.39 bp	11.0 bp −$11	29.2 bp −$292	100.5 bp −$10.0K	doesn't fit
Sell KuCoin live order book, 1 min ago	3.91 bp	25.3 bp −$25	60.1 bp −$601	doesn't fit	doesn't fit

OP on 30 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
Injective OP/USDC PERP	−0.1633%	1h	0.1277	−0.164%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	+0.034%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1280	+0.070%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1281	+0.132%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1280	+0.070%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	+0.077%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0063%	8h	0.1280	+0.070%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0076%	8h	0.1282	+0.195%	$235K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1281	+0.164%	$291K	$922K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1282	+0.195%	$4.1M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1281	+0.147%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1280	+0.062%	$20.7M	$61.8M	75x	as long as short
Bybit OPUSDTlong	+0.0100%	8h	0.1279	long leg	$18.6M	$25.7M	75x
OKX OP-USDT-SWAP	+0.0100%	8h	0.1280	+0.070%	$6.1M	$30.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	+0.094%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	+0.094%	$20.3M	$7.3M	300x	as long as short
KuCoin OPUSDTMshort	+0.0100%	8h	0.1280	+0.070%	$2.9M	$7.4M	75x
Bitget OPUSDT	+0.0100%	8h	0.1281	+0.149%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1280	+0.070%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.016%	$125K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1282	+0.211%	$11K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1283	+0.294%	$321K	$5.0M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1283	+0.305%	$46K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1279	−0.023%	$197	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1280	+0.102%	$177K	$236K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1280	+0.064%	$103K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1279	+0.020%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1281	+0.164%	$1.0M	$292K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0357%	1h	0.1281	+0.138%	$801K	$745K	20x	as long as short
Reya OPRUSDPERP	+0.0437%	1h	0.1279	+0.018%	$711	—	20x	as long as short