Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0798%/8h= +87.4% APRpaid last 24h +0.115%

Price spread now: KuCoin against tradeXYZ−0.135%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$540as in the Funding arb table

Net, price: spread back to 7d avg − costs−$574as in the Price arb table

costs, in and out, $10k−$5575.568% of the position

Long on tradeXYZ Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 4 days (all we have)+0.434%+$43 · spread now −0.135%, 7d avg +0.039%

Together, before fees+0.604%+ Points / potential airdroptradeXYZ: Active · farm board+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.174% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of +0.039%). If the spread goes back, that is −$17 on $10k: about 17 hours of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.170% in total) that is about 7.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.170% in total (about 8.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BX	126.21	−0.0506	get 0.0063% / 1h	0m 09s	$664K	$211K	10x
Short	KuCoin BXUSDTM	126.04	0.0292	get 0.0292% / 8h	5h 00m	$114K	$972K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against tradeXYZ. 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 tradeXYZbpFee KuCoinbpOrdersPrice spread, now −0.135%Rate

Funding earned: $167.57
Price spread: −0.135% → +0.039%: −$17.38
Slippage, 4 orders: −$526.81
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$406.61
Costs to cover: 5.568%
Break-even: 24.0 days

Slippage from tradeXYZ: live order book, 36 min ago; KuCoin: live order book, 24 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 tradeXYZ live order book, 36 min ago	3.17 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 24 min ago	11.90 bp	215.8 bp −$216	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXlong	−0.0506%	1h	126.21	long leg	$664K	$211K	10x
Aster BXUSDT	0.0000%	8h	126.22	+0.006%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.33	+0.095%	$485K	$836K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.34	+0.103%	$164K	$113K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.02	+0.642%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.34	+0.103%	$423K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.44	+0.182%	$899K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.26	+0.039%	$1K	$111K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.27	+0.048%	$1K	$311K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.29	+0.063%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.60	+9.817%	$4K	$32K	12x	as long as short
KuCoin BXUSDTMshort	+0.0292%	8h	126.04	−0.135%	$114K	$972K	20x
Variational Omni BX	+0.0626%	8h	126.23	+0.019%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0865%	8h	126.33	+0.092%	$782K	$483K	20x	as long as short