Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.001%

Price spread now: Coinbase International against KuCoin−0.463%7-day average −0.274% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$2672.665% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.466%+$47 · spread now −0.463%, 7d avg −0.274%

Together, before fees+0.480%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.189% cheaper against KuCoin than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.274%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BEUSDTM	274.35	0.0100	pay 0.0100% / 8h	3h 40m	$371K	$19K	20x
Short	Coinbase International BE-PERP-INTX	273.08	0.0064	get 0.0008% / 1h	40m 27s	$473K	$128K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.463%Rate

Funding earned: −$7.56
Price spread: −0.463% → −0.274%: −$18.88
Slippage, 4 orders: −$244.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$292.96
Costs to cover: 2.665%
Break-even: never at this rate

Slippage from KuCoin: live order book, 32 min ago; Coinbase International: live order book, 13 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, 32 min ago	18.89 bp	87.7 bp −$88	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 13 min ago	4.55 bp	9.6 bp −$10	19.3 bp −$193	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	274.32	−0.013%	$345K	$119K	20x	as long as short
Gate BE_USDT	0.0000%	8h	274.30	−0.018%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.40	+0.018%	$1.6M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	274.85	+0.182%	$7K	$163K	10x	as long as short
SunX BE-USDT	0.0000%	8h	274.75	+0.146%	$959	$2.4M	10x	as long as short
Deribit BE_USDC-PERPETUAL	0.0000%	1h	274.40	+0.018%	$7K	$4K	10x	as long as short
HTX BE-USDT	0.0000%	8h	274.79	+0.160%	$13K	$35K	20x	as long as short
Bybit BEUSDT	+0.0028%	8h	274.47	+0.044%	$2.0M	$1.1M	25x	as long as short
Binance BEUSDT	+0.0029%	8h	274.42	+0.027%	$8.5M	$36.6M	25x	as long as short
Lighter BE	+0.0032%	1h	274.39	+0.015%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	274.34	−0.004%	$250K	$290K	10x	as long as short
Extended BE-USD	+0.0032%	1h	274.45	+0.037%	$46K	$260K	10x	as long as short
QFEX BE-USD	+0.0036%	1h	274.39	+0.015%	$1.3M	$2.7M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.45	+0.036%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	274.50	+0.055%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	274.37	+0.007%	$5.9M	$2.6M	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0064%	1h	273.08	−0.463%	$473K	$128K	10x
KuCoin BEUSDTMlong	+0.0100%	8h	274.35	long leg	$371K	$19K	20x
Aevo BE-PERP	+0.0104%	1h	274.48	+0.048%	—	—	10x	as long as short
BloFin BE-USDT	+0.0124%	8h	274.61	+0.095%	$45K	$142K	20x	as long as short
OKX BE-USDT-SWAP	+0.0127%	8h	274.55	+0.073%	$2.7M	$6.8M	25x	as long as short