Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.021%

Price spread now: KuCoin against 01 Exchange+0.022%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−$22as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.022%, 7d avg +0.002%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.020% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of +0.002%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,195.1	0	get 0.0000% / 1h	35m 12s	$346K	$2.3M	50x
Short	KuCoin XBTUSDTM	85,214	−0.0024	pay 0.0024% / 8h	35m 12s	$928.3M	$776.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$5.04
Price spread: +0.022% → +0.002%: $2.02
Slippage, 4 orders: −$4.84
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$26.86
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from 01 Exchange: live order book, 4 min ago; KuCoin: live order book, 4 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 01 Exchange live order book, 4 min ago	0.01 bp	3.7 bp −$4	8.5 bp −$85	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.5 bp −$65	8.2 bp −$821	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
Hotstuff BTC-PERP	−0.0080%	1h	85,200	+0.006%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,354	+0.187%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTMshort	−0.0024%	8h	85,214	+0.022%	$928.3M	$776.8M	125x
BloFin BTC-USDT	−0.0023%	8h	85,197.3	+0.003%	$420.3M	$682.3M	150x	as long as short
Aster BTCUSDT	−0.0006%	8h	85,200	+0.006%	$509.5M	$1.09B	200x	as long as short
01 Exchange BTCUSDlong	0.0000%	1h	85,195.1	long leg	$346K	$2.3M	50x
dYdX BTC-USD	+0.0004%	1h	85,225.3	+0.035%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,196.5	+0.002%	$36.4M	—	200x	as long as short
ApeX Omni BTCUSDT	+0.0020%	1h	85,214.8	+0.023%	$139.7M	$312.6M	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,217.9	+0.027%	$185.6M	$953.9M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0065%	8h	85,193.8	−0.002%	—	$17.4M	—	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,210	+0.017%	$338K	$24.7M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0069%	1h	85,233.6	+0.045%	$840.8M	$1.66B	50x	as long as short
Bybit BTCUSDT	+0.0081%	8h	85,207.8	+0.015%	$5.12B	$10.00B	150x	as long as short
Nado BTC-PERP	+0.0088%	1h	85,226.6	+0.037%	$24.0M	$220.6M	50x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,215.6	+0.024%	$2.97B	$5.19B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,200.1	+0.006%	$168.7M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,216.1	+0.025%	$23.6M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,192	−0.004%	$8.4M	$57.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,184	−0.013%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,210	+0.017%	$5.03B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,209.8	+0.017%	$9.38B	$25.10B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,168	−0.032%	$269K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,238.6	+0.051%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,297	+0.120%	$3.75B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,225.7	+0.036%	$39.9M	$606.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,222.7	+0.032%	$2.59B	$12.22B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,206	+0.013%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,201.9	+0.008%	$4.6M	$97.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,220.9	+0.030%	$5.49B	$11.06B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,201.6	+0.008%	$37.3M	$186.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,196.3	+0.001%	$155.5M	$553.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,229.3	+0.040%	$282.6M	$957.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,333.8	+0.163%	$214.3M	$158.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,195.8	+0.001%	$30.0M	$210.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,262.8	+0.079%	—	$10.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,192	−0.004%	$10.9M	$14.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,190.2	−0.006%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,185.9	−0.011%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,222.1	+0.032%	$194K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,169.5	−0.030%	$29.9M	$45.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,214.2	+0.022%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,192	−0.004%	$59.6M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,200	+0.006%	$2.25B	$970.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,227.9	+0.038%	$159.0M	$515.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,299.3	+0.122%	$693.1M	$258.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,156.6	−0.045%	$45.5M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,195.8	+0.001%	—	$106.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,239	+0.052%	$111.9M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0139%	1h	85,178.3	−0.020%	$6.6M	$145.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0171%	8h	85,229	+0.040%	$12.1M	$736.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,210.8	+0.018%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,194.4	−0.001%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,246.5	+0.060%	$682K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0297%	1h	85,315.9	+0.142%	$81K	$254K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,199.6	+0.005%	$474K	$18.4M	6.7x	as long as short