Funding arb · Price arb /

S

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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 +0.012%

Price spread now: Gate against KuCoin+0.151%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$334as in the Funding arb table

Net, price: spread back to 7d avg − costs−$325as in the Price arb table

costs, in and out, $10k−$3393.389% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.151%, 7d avg +0.015%

Together, before fees−0.103%−$10 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: Gate is 0.135% dearer against KuCoin than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03986	0.0100	pay 0.0050% / 4h	14m 58s	$1.8M	$2.7M	50x
Short	Gate S_USDT	0.03992	0.0100	get 0.0050% / 4h	14m 58s	$325K	$191K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.151%Rate

Funding earned: $0
Price spread: +0.151% → +0.015%: $13.5
Slippage, 4 orders: −$311.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$325.38
Costs to cover: 3.389%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Gate: live order book, 40 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, 2 min ago	6.27 bp	102.9 bp −$103	487.9 bp −$4,879	doesn't fit	doesn't fit
Sell Gate live order book, 40 min ago	8.55 bp	86.8 bp −$87	doesn't fit	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	−0.6448%	1h	0.03960	−0.652%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2562%	1h	0.03984	−0.053%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03963	−0.577%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03997	+0.276%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03991	+0.128%	$4	—	15x	as long as short
Variational Omni S	−0.0024%	4h	0.03987	+0.033%	$619K	$30K	—	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03999	+0.326%	$67K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03996	+0.250%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.860%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.03993	+0.176%	$99K	$289K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03998	+0.301%	$168K	$156K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03993	+0.171%	$996K	$552K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03999	+0.330%	$44K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03993	+0.169%	$5.4M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03989	+0.075%	$5.7M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03990	+0.100%	$1.0M	$3.8M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03992	+0.151%	$325K	$191K	50x
MEXC S_USDT	+0.0100%	4h	0.03994	+0.201%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03986	long leg	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.03994	+0.201%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03994	+0.201%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	+0.351%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03991	+0.123%	$229K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03994	+0.201%	$276K	$96K	75x	as long as short
Backpack S_USDC_PERP	+0.1079%	1h	0.04000	+0.351%	$116K	$419K	5x	as long as short