Funding you earn now, next payment 16:00 UTC−0.0268%/8h= −29.3% APRnext payment −$2.68 per $10,000 · paid last 24h −0.045%
Price spread now: KuCoin against Bybit−0.070%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$360.364% of the position
Funding, last 7 days−0.112%−$11 on $10k
+Price spread, last 7 days+0.020%+$2 · spread now −0.070%, 7d avg −0.068%
=The price spread sits at its 7-day average of −0.068%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% in total (about -5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.68 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit USDCUSDT | 1.0001 | 0.0100 | pay 0.0100% / 8h | 5h 48m | $9.5M | $161K | 50x |
| Short | KuCoin USDCUSDTM | 0.9994 | −0.0168 | pay 0.0168% / 8h | 5h 48m | $2.5M | $20K | 30x |
Bybit USDCUSDT
KuCoin USDCUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$56.28
- Price spread: −0.070% → −0.068%
- −$0.24
- Slippage, 4 orders
- −$13.37
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$92.9
- Costs to cover
- 0.364%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; KuCoin: live order book, 2 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 Bybit live order book, 3 min ago | 0.50 bp | 6.0 bp −$6 | 8.7 bp −$87 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 2 min ago | 4.50 bp | 13.9 bp −$14 | 356.9 bp −$3,569 | doesn't fit | doesn't fit |
USDC on 8 exchanges
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_USDCUSD | −0.0195% | 1h | 0.9998 | −0.035% | $14K | $872 | 50x | as long as short |
| KuCoin USDCUSDTMshort | −0.0168% | 8h | 0.9994 | −0.070% | $2.5M | $20K | 30x | |
| Binance USDCUSDT | −0.0076% | 8h | 0.9997 | −0.040% | $4.8M | $4.3M | 50x | as long as short |
| MEXC USDC_USDT | −0.0075% | 8h | 0.9997 | −0.041% | $20.9M | $722K | 200x | as long as short |
| Bitget USDCUSDT | −0.0070% | 8h | 0.9995 | −0.060% | $4.3M | $8K | 50x | as long as short |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0002 | +0.009% | $1.1M | $39K | 50x | as long as short |
| Bybit USDCUSDTlong | +0.0100% | 8h | 1.0001 | long leg | $9.5M | $161K | 50x | |
| Gate USDC_USDT | +0.0100% | 8h | 0.9992 | −0.090% | $253K | $26K | 50x | as long as short |
Kraken Futures PF_USDCUSD
Binance USDCUSDT
MEXC USDC_USDT
Bitget USDCUSDT
OKX USDC-USDT-SWAP
Gate USDC_USDT