Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0610%/8h= −66.8% APRpaid last 24h −0.174%

Price spread now: Deribit against KuCoin+0.135%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.135% dearer against KuCoin than usual: you sell high and buy low (spread +0.135% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01181	0.0100	pay 0.0050% / 4h	3h 30m	$425K	$246K	50x
Short	Deribit W_USDC-PERPETUAL	0.01183	−0.0510	pay 0.0064% / 1h	30m 40s	$18K	$531	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$128.2
Price spread: +0.135% → 0.000%: $13.55
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$133.65
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 min ago; Deribit: no order-book sample. Net counts fees only.

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, 11 min ago	8.55 bp	153.5 bp −$154	443.2 bp −$4,432	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALshort	−0.0510%	1h	0.01183	+0.135%	$18K	$531	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.371%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01183	+0.169%	$2.0M	$476K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01182	+0.098%	$3.0M	$7.9M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01181	−0.025%	$4.1M	$2.1M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01181	0.000%	$1.3M	$2.3M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01180	−0.076%	$447K	$313K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01182	+0.102%	$13.1M	$1.8M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01181	long leg	$425K	$246K	50x
Bitget WUSDT	+0.0100%	4h	0.01183	+0.169%	$1.3M	$560K	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	0.01182	+0.068%	—	$7.0M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01176	−0.392%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01181	+0.018%	$134K	$422K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01182	+0.083%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01184	+0.288%	$14K	$19K	50x	as long as short
Backpack W_USDC_PERP	+0.0317%	1h	0.01184	+0.262%	$44K	$52K	15x	as long as short
Kraken Futures PF_WUSD	+0.1055%	1h	0.01185	+0.361%	$147K	$189K	20x	as long as short