Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.031%

Price spread now: KuCoin against dYdX−0.206%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.206% cheaper against dYdX than usual: you would sell low and buy high (spread −0.206% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 5.7 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005584	−0.0020	get 0.0002% / 1h	45m 08s	$11K	$16	5x
Short	KuCoin ATHUSDTM	0.005573	0.0100	get 0.0050% / 4h	1h 45m	$571K	$82K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now −0.206%Rate

Funding earned: $25.14
Price spread: −0.206% → 0.000%: −$20.59
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$17.45
Costs to cover: 0.220%
Break-even: 11.9 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 28 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 28 min ago	9.84 bp	190.0 bp −$190	doesn't fit	doesn't fit	doesn't fit

dYdX: 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.

ATH on 13 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
Kraken Futures PF_ATHUSD	−0.4629%	1h	0.005575	−0.177%	$19K	$106K	10x	as long as short
Variational Omni ATH	−0.0051%	4h	0.005564	−0.376%	$187K	$93K	—	as long as short
dYdX ATH-USDlong	−0.0020%	1h	0.005584	long leg	$11K	$16	5x
OKX ATH-USDT-SWAP	+0.0078%	4h	0.005575	−0.170%	$712K	$1.3M	20x	as long as short
BloFin ATH-USDT	+0.0090%	4h	0.005583	−0.027%	$174K	$62K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005583	−0.031%	$6K	$35K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005586	+0.027%	$3.4M	$4.0M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005575	−0.170%	$4.5M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005571	−0.242%	$795K	$516K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005586	+0.027%	$8.9M	$648K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTMshort	+0.0100%	4h	0.005573	−0.206%	$571K	$82K	30x
Bitget ATHUSDT	+0.0100%	4h	0.005582	−0.045%	$1.6M	$798K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005580	−0.081%	—	$22.0M	—	as long as short