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Funding arb · Price arb /

FET

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.4316%/8h= +472.7% APRpaid last 24h +0.599%
Price spread now: KuCoin against Deribit+0.100%7-day average +0.021% · 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−$55as in the Price arb table
costs, in and out, $10k−$630.633% of the position
Long on DeribitShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 6 days (all we have)+0.782%+$78 on $10k
Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.100%, 7d avg +0.021%
Together, before fees+0.754%+$75 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$129 a day on $10k at the current rate, and KuCoin is 0.079% dearer against Deribit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.021%.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.782% in total (about 48.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit FET_USDC-PERPETUAL0.2006−0.4216get 0.0527% / 1h47m 46s$38K$307K10x
ShortKuCoin FETUSDTM0.20080.0100get 0.0100% / 8h3h 47m$10.5M$18.7M50x

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

Funding earned
$906.47
Price spread: +0.100% → +0.021%
$7.89
Slippage, 4 orders
−$44.32
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee KuCoin: 6 bp × 2 orders
−$12
Net
$851.03
Costs to cover
0.633%
Break-even
0.4 days
Slippage from Deribit: live order book, 6 min ago; KuCoin: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Deribit live order book, 6 min ago2.47 bp10.8 bp −$11doesn't fitdoesn't fitdoesn't fit
Sell KuCoin live order book, 6 min ago4.96 bp23.9 bp −$2464.9 bp −$649doesn't fitdoesn't fit

FET on 20 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit FET_USDC-PERPETUALlong−0.4216%1h0.2006long leg$38K$307K10x
Coinbase International FET-PERP-INTX−0.1192%1h0.2009+0.150%$145K$253K50xas long as short
Kraken Futures PF_FETUSD−0.0365%1h0.2010+0.186%$990K$2.2M50xas long as short
gTrade (Gains Network) FET/USDL +0.0006% / S −0.0011%1h0.2004−0.075%$33K—150xas long as short
Injective FET/USDC PERP+0.0033%1h0.2010+0.199%$3K$166K12xas long as short
Aster FETUSDT+0.0100%8h0.2004−0.090%$193K$811K10xas long as short
Binance FETUSDT+0.0100%8h0.2008+0.100%$30.8M$113.5M75xas long as short
Gate FET_USDT+0.0100%8h0.2005−0.050%$2.7M$12.5M50xas long as short
MEXC FET_USDT+0.0100%8h0.2007+0.050%$31.1M$24.5M200xas long as short
KuCoin FETUSDTMshort+0.0100%8h0.2008+0.100%$10.5M$18.7M50x
Show all 20 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni FET+0.0100%8h0.2019+0.655%$278K$477K—as long as short
Orderly PERP_FET_USDC+0.0100%8h0.2004−0.100%$38K$7K10xas long as short
Extended FET-USD+0.0104%1h0.2008+0.079%$33K$253K10xas long as short
GMX FET/USD [ETH-USDC]L +0.0201% / S −0.0278%1h0.2003−0.135%$13K—100xas long as short
BloFin FET-USDT+0.0220%8h0.2000−0.299%$1.7M$3.1M100xas long as short
BingX FET-USDT+0.0239%8h0.2007+0.050%—$5.9M—as long as short
Bitget FETUSDT+0.0253%8h0.2008+0.100%$16.3M$11.9M75xas long as short
OKX FET-USDT-SWAP+0.0283%4h0.2009+0.150%$1.0M$8.1M20xas long as short
Phoenix FET+0.0435%1h0.2016+0.499%$35K$38K5xas long as short
Hyperliquid FET+0.0615%1h0.2009+0.130%$8.6M$8.5M5xas long as short