Funding arb · Price arb /

S

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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 −0.012%

Price spread now: KuCoin against Bitget−0.153%7-day average −0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2332.333% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 7 days−0.098%−$10 · spread now −0.153%, 7d avg −0.132%

Together, before fees−0.063%−$6 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 0.021% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.03926	0.0100	pay 0.0050% / 4h	1h 58m	$1.2M	$2.9M	50x
Short	KuCoin SUSDTM	0.03920	0.0100	get 0.0050% / 4h	1h 58m	$1.8M	$3.1M	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 −0.153%Rate

Funding earned: $0
Price spread: −0.153% → −0.132%: −$2.1
Slippage, 4 orders: −$209.31
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$235.41
Costs to cover: 2.333%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; KuCoin: live order book, 8 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, 4 min ago	5.11 bp	18.5 bp −$19	53.2 bp −$532	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	3.85 bp	93.3 bp −$93	192.5 bp −$1,925	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.1593%	1h	0.03923	−0.074%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.547%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0787%	4h	0.03914	−0.309%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0192% / S +0.0186%	1h	0.03926	0.000%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03919	−0.170%	$4	—	15x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03920	−0.153%	$24K	$3K	5x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03927	+0.025%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03925	−0.038%	$605	—	150x	as long as short
Orderly PERP_S_USDC	+0.0016%	4h	0.03925	−0.025%	$100K	$349K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.432%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0042%	4h	0.03923	−0.083%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03926	0.000%	$164K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03923	−0.089%	$984K	$878K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03920	−0.153%	$5.3M	$22.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03915	−0.280%	$5.6M	$6.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03920	−0.153%	$978K	$7.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03917	−0.229%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03920	−0.153%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03920	−0.153%	$1.8M	$3.1M	50x
Bitget SUSDTlong	+0.0100%	4h	0.03926	long leg	$1.2M	$2.9M	50x
BingX S-USDT	+0.0100%	4h	0.03920	−0.153%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.153%	$23K	$469K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03919	−0.181%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03921	−0.127%	$269K	$133K	75x	as long as short
Backpack S_USDC_PERP	+0.0872%	1h	0.03930	+0.102%	$114K	$298K	5x	as long as short