Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.013%

Price spread now: KuCoin against Extended+0.064%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 7 days−0.053%−$5 · spread now +0.064%, 7d avg +0.035%

Together, before fees−0.158%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.029% dearer against Extended than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.035%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.105% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BTC-USD	86,516.8	0.0104	pay 0.0013% / 1h	47m 18s	$46.4M	$225.0M	50x
Short	KuCoin XBTUSDTM	86,572.5	0.0003	get 0.0003% / 8h	1h 47m	$851.6M	$708.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Extended. 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 ExtendedbpFee KuCoinbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$21.21
Price spread: +0.064% → +0.035%: $2.89
Slippage, 4 orders: −$0.23
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.54
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; KuCoin: live order book, 2 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 Extended live order book, 2 min ago	0.06 bp	2.6 bp −$3	2.6 bp −$26	2.6 bp −$263	8.0 bp −$4,013
Sell KuCoin live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.5 bp −$65	8.0 bp −$798	doesn't fit

BTC on 56 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
Bluefin BTC-PERP	−0.1760%	1h	86,556.4	+0.046%	$140K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0191%	1h	86,577.1	+0.070%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,518	+0.001%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,570	+0.062%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0019%	1h	86,587.1	+0.081%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,596.3	+0.092%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0008%	8h	86,558.5	+0.048%	$505.3M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,585.6	+0.080%	$418K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTMshort	+0.0003%	8h	86,572.5	+0.064%	$851.6M	$708.7M	125x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,558.9	+0.049%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,579.4	+0.072%	$8.6M	$43.2M	25x	as long as short
Hibachi BTC/USDT-P	+0.0016%	1h	86,550.4	+0.039%	$727K	$8.1M	30x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,550.4	+0.039%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.049%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,532.8	+0.019%	$149.6M	$472.9M	150x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,540.4	+0.027%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0040%	8h	86,534.5	+0.020%	$2.95B	$5.08B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0043%	1h	86,573.8	+0.066%	$925.2M	$1.47B	50x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,532.1	+0.018%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0058%	8h	86,538.9	+0.026%	$5.19B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0058%	8h	86,539.7	+0.027%	$9.42B	$24.35B	150x	as long as short
SoDEX BTC-USD	+0.0073%	1h	86,533	+0.019%	$60.5M	$336.8M	40x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,529.5	+0.015%	$5.85B	$10.63B	200x	as long as short
Popdex BTCUSDT	+0.0088%	1h	86,583	+0.077%	$8.5M	$52.2M	100x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,537.6	+0.024%	$5.27B	$9.72B	150x	as long as short
Nado BTC-PERP	+0.0092%	1h	86,569.2	+0.061%	$21.7M	$233.5M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,574.5	+0.067%	$172.3M	$998.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,587.5	+0.082%	$24.0M	$151.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,569	+0.060%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,609.7	+0.107%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,628	+0.129%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,600.9	+0.097%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,536	+0.022%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,572	+0.064%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,648.3	+0.152%	$7.4M	$93.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	+0.012%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,523.4	+0.008%	$38.2M	$153.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,521.5	+0.005%	$156.7M	$571.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,522.6	+0.007%	$279.4M	$942.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,535.2	+0.021%	$217.1M	$182.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,530.4	+0.016%	$141.4M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,556	+0.045%	$30.7M	$203.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,616.2	+0.115%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,580	+0.073%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,539.9	+0.027%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,544.2	+0.032%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,537	+0.023%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,549.5	+0.038%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,512.2	−0.005%	$2.30B	$959.1M	200x	as long as short
Extended BTC-USDlong	+0.0104%	1h	86,516.8	long leg	$46.4M	$225.0M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,556.2	+0.046%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,574	+0.066%	$132.1M	$5.74B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,565.4	+0.056%	$191.3M	$936.7M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,543.4	+0.031%	$415.3M	$654.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,554	+0.043%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0188%	8h	86,559	+0.049%	$9.6M	$725.9M	6.4x	as long as short