Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.019%

Price spread now: 01 Exchange against KuCoin+0.001%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.042%−$4 on $10k

Price spread, last 7 days+0.018%+$2 · spread now +0.001%, 7d avg −0.002%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	86,447.6	0.0018	pay 0.0018% / 8h	14m 29s	$833.9M	$728.6M	125x
Short	01 Exchange BTCUSD	86,448.4	−0.0016	pay 0.0002% / 1h	14m 29s	$359K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.001%Rate

Funding earned: −$7.14
Price spread: +0.001% → −0.002%: $0.34
Slippage, 4 orders: −$2.65
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$28.45
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; 01 Exchange: live order book, 5 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, 5 min ago	0.01 bp	6.4 bp −$6	7.1 bp −$71	8.0 bp −$796	doesn't fit
Sell 01 Exchange live order book, 5 min ago	0.01 bp	3.9 bp −$4	9.6 bp −$96	doesn't fit	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
Phoenix BTC	−0.0118%	1h	86,476	+0.033%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,431	−0.019%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.119%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,446.9	−0.001%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSDshort	−0.0016%	1h	86,448.4	+0.001%	$359K	$2.4M	50x
Perpl BTC	0.0000%	43m	86,463.5	+0.018%	$412K	$22.7M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,462.9	+0.018%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0006%	8h	86,443.2	−0.005%	$501.4M	$1.15B	200x	as long as short
KuCoin XBTUSDTMlong	+0.0018%	8h	86,447.6	long leg	$833.9M	$728.6M	125x
Reya BTCRUSDPERP	+0.0035%	1h	86,435.4	−0.014%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0042%	8h	86,437.7	−0.011%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0052%	8h	86,448.1	+0.001%	$150.5M	$478.7M	150x	as long as short
Bitget BTCUSDT	+0.0054%	8h	86,429.1	−0.021%	$2.96B	$5.13B	150x	as long as short
dYdX BTC-USD	+0.0064%	1h	86,456.7	+0.011%	$16.9M	$21.2M	50x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,437.9	−0.011%	$5.16B	$5.68B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,435.5	−0.014%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,432.4	−0.018%	$9.43B	$24.56B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,431.4	−0.019%	$5.85B	$10.80B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,446.3	−0.002%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,454.8	+0.008%	$23.9M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,429	−0.022%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,435.6	−0.014%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,418	−0.034%	$195K	$7.1M	50x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,447	−0.001%	$60.4M	$338.2M	40x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,480.2	+0.038%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,446.1	−0.002%	$21.8M	$234.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,514	+0.077%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,466.6	+0.022%	$41.1M	$535.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,446.9	−0.001%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	−0.002%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,465.1	+0.020%	$7.4M	$95.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,449	+0.002%	$572.1M	$12.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,431.4	−0.019%	$37.9M	$157.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,485.4	+0.044%	$157.1M	$568.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,437.7	−0.012%	$279.2M	$947.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,437.7	−0.011%	$216.9M	$172.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,437.6	−0.012%	$141.3M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,464	+0.019%	$30.7M	$205.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,484.9	+0.043%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,430	−0.020%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,450.3	+0.003%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,443.2	−0.005%	$2.4M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,469.1	+0.025%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,476	+0.033%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,456.3	+0.010%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,433.5	−0.016%	$2.29B	$968.4M	200x	as long as short
Deribit BTC-PERPETUAL	+0.0104%	1h	86,487.8	+0.047%	$912.2M	$1.48B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	86,426.9	−0.024%	$45.6M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,502.6	+0.064%	—	$99.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,472.1	+0.028%	$192.7M	$953.8M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,478.5	+0.036%	$132.1M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0156%	1h	86,470.8	+0.027%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,527.5	+0.092%	$729K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0193%	8h	86,434.4	−0.015%	$415.8M	$658.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0222%	1h	86,456	+0.010%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,483	+0.041%	$10.0M	$749.8M	6.4x	as long as short