Funding arb · Price arb /

US

all US markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0854%/8h= +93.5% APRpaid last 24h +0.133%

Price spread now: Extended against KuCoin+0.255%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,300as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,318as in the Price arb table

costs, in and out, $10k−$1,33513.354% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.352%+$35 on $10k

Price spread, last 4 days (all we have)−0.340%−$34 · spread now +0.255%, 7d avg +0.079%

Together, before fees+0.012%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Extended is 0.176% dearer against KuCoin than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.079%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.352% in total (about 18.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USUSDTM	0.01638	−0.0070	get 0.0035% / 4h	45m 31s	$4.2M	$278K	20x
Short	Extended US-USD	0.01642	0.0784	get 0.0098% / 1h	45m 31s	$4K	$141K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.255%Rate

Funding earned: $179.34
Price spread: +0.255% → +0.079%: $17.6
Slippage, 4 orders: −$1,318.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$1,138.47
Costs to cover: 13.354%
Break-even: 51.4 days

Slippage from KuCoin: live order book, 2 min ago; Extended: live order book, 30 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	18.62 bp	631.3 bp −$631	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	4.90 bp	143.9 bp −$144	doesn't fit	doesn't fit	doesn't fit

US on 11 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
KuCoin USUSDTMlong	−0.0070%	4h	0.01638	long leg	$4.2M	$278K	20x
Bybit USUSDT	+0.0100%	4h	0.01642	+0.263%	$3.2M	$864K	20x	as long as short
Gate US_USDT	+0.0100%	4h	0.01640	+0.128%	$2.1M	$548K	20x	as long as short
Variational Omni US	+0.0100%	4h	0.01641	+0.189%	$16K	$3K	—	as long as short
Bitget USUSDT	+0.0650%	4h	0.01641	+0.214%	$4.3M	$249K	10x	as long as short
Aster USUSDT	+0.0670%	4h	0.01638	−0.001%	$12K	$55K	5x	as long as short
BingX US-USDT	+0.0686%	4h	0.01642	+0.293%	—	$1.3M	—	as long as short
BloFin US-USDT	+0.0763%	4h	0.01641	+0.220%	$477K	$49K	10x	as long as short
Extended US-USDshort	+0.0784%	1h	0.01642	+0.255%	$4K	$141K	5x
MEXC US_USDT	+0.0784%	4h	0.01643	+0.324%	$5.5M	$114K	100x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance USUSDT	+0.0820%	4h	0.01642	+0.293%	$9.2M	$3.1M	10x	as long as short