Funding arb · Price arb /

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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 0.000%

Price spread now: KuCoin against Binance+0.128%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$237as in the Price arb table

costs, in and out, $10k−$2502.503% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 4 days (all we have)−0.399%−$40 · spread now +0.128%, 7d avg −0.006%

Together, before fees−0.327%−$33 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: KuCoin is 0.134% dearer against Binance than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WUSDT	0.01175	0.0100	pay 0.0050% / 4h	1h 46m	$2.9M	$7.0M	50x
Short	KuCoin WUSDTM	0.01176	0.0100	get 0.0050% / 4h	1h 46m	$506K	$245K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → −0.006%: $13.37
Slippage, 4 orders: −$228.26
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$236.89
Costs to cover: 2.503%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; KuCoin: live order book, 26 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 Binance live order book, 8 min ago	1.28 bp	23.7 bp −$24	111.4 bp −$1,114	doesn't fit	doesn't fit
Sell KuCoin live order book, 26 min ago	8.54 bp	99.4 bp −$99	250.6 bp −$2,506	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0686%	1h	0.01174	−0.009%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0038%	4h	0.01174	−0.060%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.937%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01175	+0.043%	$2.0M	$443K	5x	as long as short
Binance WUSDTlong	+0.0100%	4h	0.01175	long leg	$2.9M	$7.0M	50x
Bybit WUSDT	+0.0100%	4h	0.01173	−0.145%	$4.1M	$2.0M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01174	−0.043%	$445K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01174	−0.051%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01176	+0.128%	$506K	$245K	50x
Bitget WUSDT	+0.0100%	4h	0.01176	+0.128%	$1.3M	$576K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01175	+0.009%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01172	−0.243%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01174	−0.041%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01174	−0.059%	$59K	$276K	5x	as long as short
Backpack W_USDC_PERP	+0.0221%	1h	0.01177	+0.179%	$44K	$47K	15x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01176	+0.145%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0398%	1h	0.01177	+0.231%	$146K	$185K	20x	as long as short