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 +0.013%

Price spread now: BingX against KuCoin+0.025%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2192.194% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 7 days+0.100%+$10 · spread now +0.025%, 7d avg +0.063%

Together, before fees+0.145%+$15 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: BingX is 0.037% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03922	0.0100	pay 0.0050% / 4h	1h 46m	$1.8M	$3.1M	50x
Short	BingX S-USDT	0.03923	0.0100	get 0.0050% / 4h	1h 46m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → +0.063%: −$3.73
Slippage, 4 orders: −$197.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$223.11
Costs to cover: 2.194%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; BingX: live order book, 6 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 KuCoin live order book, 5 min ago	6.39 bp	87.6 bp −$88	266.1 bp −$2,661	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	3.83 bp	19.8 bp −$20	56.9 bp −$569	389.0 bp −$38.9K	772.1 bp −$386.1K

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	−0.1591%	1h	0.03929	+0.180%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.448%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0836%	4h	0.03913	−0.238%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0187%	1h	0.03934	+0.316%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03930	+0.204%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0048%	1h	0.03930	+0.204%	$24K	$2K	5x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03934	+0.306%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03934	+0.315%	$606	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03931	+0.229%	$100K	$348K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.539%	$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	+0.0053%	4h	0.03931	+0.232%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03932	+0.255%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03925	+0.082%	$985K	$787K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03923	+0.024%	$5.4M	$21.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03917	−0.127%	$5.6M	$6.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03922	0.000%	$978K	$6.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03920	−0.051%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03929	+0.178%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03922	long leg	$1.8M	$3.1M	50x
Bitget SUSDT	+0.0100%	4h	0.03925	+0.076%	$1.2M	$2.7M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03923	+0.025%	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+0.204%	$23K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03922	−0.009%	$221K	$881K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03934	+0.306%	$269K	$128K	75x	as long as short
Backpack S_USDC_PERP	+0.0386%	1h	0.03930	+0.204%	$114K	$302K	5x	as long as short