Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.017%

Price spread now: KuCoin against gTrade (Gains Network)−0.189%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)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 0.189% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.189% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 6.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.03975	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	14m 43s	$613	—	150x
Short	KuCoin SUSDTM	0.03967	0.0100	get 0.0050% / 4h	3h 14m	$1.8M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now −0.189%Rate

Funding earned: $20.88
Price spread: −0.189% → 0.000%: −$18.87
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.99
Costs to cover: 0.220%
Break-even: 13.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	6.31 bp	110.9 bp −$111	267.1 bp −$2,671	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

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
01 Exchange SUSD	−0.4632%	1h	0.03840	−3.384%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2246%	1h	0.03965	−0.228%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−1.195%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03974	−0.023%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03974	−0.010%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.03975	long leg	$613	—	150x
Variational Omni S	+0.0008%	4h	0.03962	−0.307%	$615K	$30K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.158%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0082%	4h	0.03972	−0.063%	$99K	$292K	10x	as long as short
Lighter S	+0.0096%	1h	0.03972	−0.063%	$168K	$157K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03969	−0.128%	$994K	$590K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03971	−0.099%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03968	−0.171%	$5.5M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03962	−0.315%	$5.7M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03969	−0.138%	$985K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03971	−0.088%	$323K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03968	−0.164%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03967	−0.189%	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.03972	−0.063%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03968	−0.164%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.113%	$24K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03965	−0.229%	$225K	$593K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03960	−0.365%	$272K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0758%	1h	0.03973	−0.038%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1360%	1h	0.03980	+0.138%	$116K	$423K	5x	as long as short