Funding arb · Price arb /

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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 0.000%

Price spread now: Binance against KuCoin+0.236%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$261as in the Funding arb table

Net, price: spread back to 7d avg − costs−$232as in the Price arb table

costs, in and out, $10k−$2552.555% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now +0.236%, 7d avg +0.006%

Together, before fees−0.024%−$2 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: Binance is 0.230% dearer against KuCoin than usual: you sell high and buy low, +$23 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	KuCoin WUSDTM	0.01186	0.0100	pay 0.0050% / 4h	3h 45m	$376K	$210K	50x
Short	Binance WUSDT	0.01189	0.0100	get 0.0050% / 4h	3h 45m	$3.0M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.236%Rate

Funding earned: $0
Price spread: +0.236% → +0.006%: $23.04
Slippage, 4 orders: −$233.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$232.43
Costs to cover: 2.555%
Break-even: never at this rate

Slippage from KuCoin: live order book, 27 min ago; Binance: live order book, 8 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, 27 min ago	8.42 bp	112.5 bp −$113	319.1 bp −$3,191	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.26 bp	21.8 bp −$22	79.7 bp −$797	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	−0.0086%	1h	0.01189	+0.295%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.939%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01189	+0.253%	$2.0M	$329K	5x	as long as short
Binance WUSDTshort	+0.0100%	4h	0.01189	+0.236%	$3.0M	$6.2M	50x
Bybit WUSDT	+0.0100%	4h	0.01187	+0.051%	$4.2M	$1.8M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01187	+0.101%	$1.3M	$1.8M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01187	+0.118%	$449K	$211K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01189	+0.236%	$12.8M	$1.3M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01186	long leg	$376K	$210K	50x
Bitget WUSDT	+0.0100%	4h	0.01189	+0.253%	$1.3M	$564K	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	0.01187	+0.110%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01187	+0.126%	$71K	$40K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	+0.111%	$128K	$402K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01188	+0.201%	$60K	$233K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01195	+0.793%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.1717%	1h	0.01191	+0.396%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1756%	1h	0.01192	+0.533%	$148K	$184K	20x	as long as short