Funding arb · Price arb /

S

all S markets

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 −0.007%

Price spread now: KuCoin against Bybit+0.147%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$216as in the Price arb table

costs, in and out, $10k−$2312.313% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.204%−$20 · spread now +0.147%, 7d avg −0.011%

Together, before fees−0.237%−$24 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 0.158% dearer against Bybit than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.04081	0.0100	pay 0.0050% / 4h	2h 16m	$5.8M	$4.7M	50x
Short	KuCoin SUSDTM	0.04087	0.0100	get 0.0050% / 4h	2h 16m	$1.9M	$2.7M	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 +0.147%Rate

Funding earned: $0
Price spread: +0.147% → −0.011%: $15.77
Slippage, 4 orders: −$208.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$215.53
Costs to cover: 2.313%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 5 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	2.45 bp	30.2 bp −$30	86.0 bp −$860	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	3.66 bp	75.9 bp −$76	225.8 bp −$2,258	doesn't fit	doesn't fit

S on 24 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
01 Exchange SUSD	−0.8528%	1h	0.03940	−3.455%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.446%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1240%	1h	0.04086	+0.132%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0438%	4h	0.04078	−0.067%	$635K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04086	+0.123%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04082	+0.013%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04085	+0.097%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.466%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0051%	4h	0.04088	+0.172%	$103K	$332K	10x	as long as short
Lighter S	+0.0096%	1h	0.04090	+0.221%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04090	+0.221%	$1.0M	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04085	+0.109%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04088	+0.169%	$5.7M	$14.8M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.04081	long leg	$5.8M	$4.7M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04085	+0.098%	$1.0M	$4.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04082	+0.025%	$336K	$205K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04086	+0.123%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04087	+0.147%	$1.9M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.04088	+0.172%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04084	+0.074%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	−0.025%	$26K	$444K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04085	+0.102%	$232K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0728%	1h	0.04094	+0.319%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1017%	1h	0.04100	+0.466%	$119K	$349K	5x	as long as short