Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Bybit against KuCoin−0.325%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$297as in the Funding arb table

Net, price: spread back to 7d avg − costs−$334as in the Price arb table

costs, in and out, $10k−$3003.004% of the position

Long on KuCoin Short on Bybit

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+0.401%+$40 · spread now −0.325%, 7d avg +0.007%

Together, before fees+0.434%+$43 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: Bybit is 0.331% cheaper against KuCoin than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.04314	0.0100	pay 0.0050% / 4h	12m 16s	$2.0M	$2.8M	50x
Short	Bybit SUSDT	0.04300	0.0100	get 0.0050% / 4h	12m 16s	$6.2M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.325%Rate

Funding earned: $0
Price spread: −0.325% → +0.007%: −$33.15
Slippage, 4 orders: −$277.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$333.55
Costs to cover: 3.004%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bybit: live order book, 1 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	3.52 bp	117.1 bp −$117	333.0 bp −$3,330	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.64 bp	30.4 bp −$30	117.4 bp −$1,174	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
01 Exchange SUSD	−1.1984%	1h	0.04190	−2.874%	$26K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1835%	1h	0.04307	−0.170%	$37K	$20K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1064%	1h	0.04279	−0.811%	$52K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04312	−0.035%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04313	−0.019%	$4	—	15x	as long as short
Variational Omni S	−0.0006%	4h	0.04257	−1.325%	$660K	$5K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04314	+0.001%	$665	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−4.961%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0090%	4h	0.04310	−0.093%	$107K	$601K	10x	as long as short
Lighter S	+0.0096%	1h	0.04313	−0.023%	$186K	$143K	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	0.04315	+0.028%	$1.1M	$623K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04313	−0.020%	$46K	$148K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04312	−0.038%	$6.2M	$14.7M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04300	−0.325%	$6.2M	$4.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04306	−0.185%	$1.1M	$4.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04313	−0.023%	$348K	$202K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04316	+0.046%	$4.3M	$2.0M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.04314	long leg	$2.0M	$2.8M	50x
Bitget SUSDT	+0.0100%	4h	0.04309	−0.116%	$1.3M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04313	−0.023%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04280	−0.788%	$25K	$503K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04305	−0.198%	$239K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04297	−0.394%	$289K	$125K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0678%	1h	0.04313	−0.023%	$73K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0982%	1h	0.04310	−0.093%	$107K	$466K	5x	as long as short