Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.3797%/8h= +415.8% APRpaid last 24h +0.281%

Price spread now: KuCoin against Deribit−0.103%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs+$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.030%+$103 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.103%, 7d avg −0.055%

Together, before fees+1.128%+$113 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.048% cheaper against Deribit than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.055%). If the spread goes back, that is −$5 on $10k: about 1 hour of funding at the current rate (+$114 a day). At the pace of the last 7 days (+1.030% in total) that is about 8 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.030% in total (about 53.7% 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	Deribit DOT_USDC-PERPETUAL	1.1607	−0.3697	get 0.0462% / 1h	18m 22s	$248K	$156K	50x
Short	KuCoin DOTUSDTM	1.1595	0.0100	get 0.0100% / 8h	18m 22s	$6.1M	$9.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.103%Rate

Funding earned: $797.37
Price spread: −0.103% → −0.055%: −$4.79
Slippage, 4 orders: −$42.38
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $731.2
Costs to cover: 0.614%
Break-even: 0.6 days

Slippage from Deribit: live order book, 20 min ago; KuCoin: live order book, 10 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 Deribit live order book, 20 min ago	6.89 bp	12.1 bp −$12	19.5 bp −$195	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	2.16 bp	17.2 bp −$17	37.6 bp −$376	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUALlong	−0.3697%	1h	1.1607	long leg	$248K	$156K	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1590	−0.143%	$251	—	—	as long as short
Coinbase International DOT-PERP-INTX	−0.0104%	1h	1.1600	−0.060%	$169K	$2.0M	50x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1597	−0.089%	$3K	—	150x	as long as short
dYdX DOT-USD	+0.0001%	1h	1.1588	−0.165%	$140K	$6K	10x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.558%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1592	−0.129%	$243K	$674K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1593	−0.121%	$5.5M	$4.7M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1590	−0.148%	$835K	$608K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1598	−0.078%	$42.2M	$89.3M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDT	+0.0100%	8h	1.1594	−0.112%	$23.5M	$20.5M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1599	−0.069%	$9.0M	$25.5M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1590	−0.146%	$6.5M	$13.1M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1593	−0.121%	$27.5M	$63.5M	300x	as long as short
KuCoin DOTUSDTMshort	+0.0100%	8h	1.1595	−0.103%	$6.1M	$9.4M	75x
Bitget DOTUSDT	+0.0100%	8h	1.1600	−0.060%	$22.3M	$14.5M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1593	−0.121%	—	$9.5M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1598	−0.078%	$88K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1548	−0.504%	$526K	$50K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1549	−0.502%	$34K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1559	−0.414%	$227K	$437K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1600	−0.060%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1614	+0.060%	$2K	$1.4M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1562	−0.388%	$260K	$283K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1598	−0.081%	$16K	$270K	25x	as long as short
Phemex DOTUSDT	+0.0213%	8h	1.1600	−0.060%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1590	−0.146%	$1.9M	$903K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0290% / S −0.0937%	1h	1.1596	−0.096%	$20K	—	100x	as long as short
Kraken Futures PF_DOTUSD	+0.0340%	1h	1.1598	−0.076%	$4.3M	$1.5M	50x	as long as short