Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.2763%/8h= −302.5% APRpaid last 24h −0.325%

Price spread now: Deribit against KuCoin+0.077%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.058%−$106 on $10k

Price spread, last 4 days (all we have)−0.297%−$30 · spread now +0.077%, 7d avg +0.053%

Together, before fees−1.355%−$135 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.025% dearer against KuCoin than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of +0.053%): +$2 on $10k if it goes back. Holding the pair costs −$83 a day in funding at the current rate, which eats that in about under an hour. At the pace of the last 7 days (−1.058% in total) that is about 4 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.058% in total (about -55.2% 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	KuCoin DOTUSDTM	1.1631	0.0100	pay 0.0100% / 8h	7h 26m	$6.1M	$9.6M	75x
Short	Deribit DOT_USDC-PERPETUAL	1.1640	−0.2663	pay 0.0333% / 1h	26m 06s	$253K	$170K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$580.23
Price spread: +0.077% → +0.053%: $2.46
Slippage, 4 orders: −$36.98
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$633.75
Costs to cover: 0.560%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Deribit: live order book, 7 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, 2 min ago	1.29 bp	14.0 bp −$14	32.5 bp −$325	doesn't fit	doesn't fit
Sell Deribit live order book, 7 min ago	8.58 bp	12.1 bp −$12	20.6 bp −$206	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-PERPETUALshort	−0.2663%	1h	1.1640	+0.077%	$253K	$170K	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1639	+0.070%	$252	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1635	+0.032%	$141K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1639	+0.071%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.345%	$328	$121K	12x	as long as short
Coinbase International DOT-PERP-INTX	+0.0072%	1h	1.1640	+0.077%	$169K	$2.0M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1632	+0.009%	$244K	$673K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1631	0.000%	$5.5M	$4.6M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1634	+0.027%	$838K	$615K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1647	+0.141%	$42.5M	$89.0M	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	1.1640	+0.077%	$23.6M	$20.4M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1644	+0.112%	$8.9M	$25.3M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1630	−0.009%	$6.5M	$11.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1631	0.000%	$31.9M	$65.4M	300x	as long as short
KuCoin DOTUSDTMlong	+0.0100%	8h	1.1631	long leg	$6.1M	$9.6M	75x
Bitget DOTUSDT	+0.0100%	8h	1.1630	−0.009%	$22.5M	$14.5M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1633	+0.017%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1631	0.000%	$85K	$134K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1630	−0.012%	$529K	$50K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1635	+0.034%	$34K	$337K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1640	+0.077%	$221K	$427K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1630	−0.009%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1665	+0.292%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1636	+0.043%	$263K	$284K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1629	−0.021%	$16K	$271K	25x	as long as short
Phemex DOTUSDT	+0.0133%	8h	1.1640	+0.077%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1645	+0.120%	$1.9M	$909K	75x	as long as short
Kraken Futures PF_DOTUSD	+0.0245%	1h	1.1640	+0.075%	$4.3M	$1.6M	50x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0290% / S −0.0937%	1h	1.1631	+0.004%	$20K	—	100x	as long as short