Funding arb · Price arb /

RUNE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0039%/8h= +4.2% APRpaid last 24h —

Price spread now: KuCoin against Deribit−0.031%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.031% cheaper against Deribit than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RUNE_USDC-PERPETUAL	0.6425	0.0061	pay 0.0008% / 1h	44m 18s	—	—	10x
Short	KuCoin RUNEUSDTM	0.6423	0.0100	get 0.0100% / 8h	4h 44m	$980K	$398K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.031%Rate

Funding earned: $8.11
Price spread: −0.031% → 0.000%: −$3.11
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14
Costs to cover: 0.190%
Break-even: 19.1 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 13 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 13 min ago	4.67 bp	31.8 bp −$32	154.9 bp −$1,549	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

RUNE on 16 exchanges

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 RUNE/USDC PERP	+0.0033%	1h	0.6155	−4.202%	$7	$14	12x	as long as short
Deribit RUNE_USDC-PERPETUALlong	+0.0061%	1h	0.6425	long leg	—	—	10x
BloFin RUNE-USDT	+0.0078%	8h	0.6418	−0.109%	$335K	$228K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6424	−0.020%	$5.2M	$16.7M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6424	−0.016%	$3.0M	$3.0M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6426	+0.016%	$645K	$409K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6423	−0.031%	$3.6M	$3.8M	125x	as long as short
KuCoin RUNEUSDTMshort	+0.0100%	8h	0.6423	−0.031%	$980K	$398K	50x
Bitget RUNEUSDT	+0.0100%	8h	0.6439	+0.218%	$1.6M	$801K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6424	−0.016%	—	$11.7M	—	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6415	−0.158%	$186K	$72K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6424	−0.018%	$28K	$228K	10x	as long as short
Kraken Futures PF_RUNEUSD	+0.0364%	1h	0.6427	+0.032%	$155K	$279K	20x	as long as short
Hyperliquid RUNE	+0.0488%	1h	0.6427	+0.023%	$2.0M	$1.1M	5x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0960%	1h	0.6509	+1.307%	$37K	$25K	25x	as long as short
dYdX RUNE-USD	+0.1730%	1h	0.6409	−0.252%	$27K	$32K	5x	as long as short