Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.033%

Price spread now: Orderly against KuCoin−0.239%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.239% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.239% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 5.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin FILUSDTM	0.9944	−0.0047	get 0.0047% / 8h	6h 39m	$7.4M	$7.3M	50x
Short	Orderly PERP_FIL_USDC_mythos	0.9920	0.0100	get 0.0050% / 4h	2h 39m	$5K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.239%Rate

Funding earned: $30.87
Price spread: −0.239% → 0.000%: −$23.93
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.06
Costs to cover: 0.180%
Break-even: 9.5 days

Slippage unknown: KuCoin: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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, 3 min ago	3.01 bp	15.8 bp −$16	47.6 bp −$476	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

FIL 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
Coinbase International FIL-PERP-INTX	−0.0296%	1h	0.9906	−0.382%	$362K	$2.1M	50x	as long as short
Kraken Futures PF_FILUSD	−0.0192%	1h	0.9959	+0.149%	$1.4M	$2.4M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0059%	8h	0.9947	+0.030%	$18.4M	$100.3M	50x	as long as short
KuCoin FILUSDTMlong	−0.0047%	8h	0.9944	long leg	$7.4M	$7.3M	50x
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9919	−0.253%	$36K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9942	−0.018%	$58K	$2K	10x	as long as short
Deribit FIL_USDC-PERPETUAL	0.0000%	1h	0.9940	−0.040%	$171K	$23K	25x	as long as short
Extended FIL-USD	+0.0024%	1h	0.9936	−0.077%	$695K	$3.3M	10x	as long as short
Binance FILUSDT	+0.0028%	8h	0.9948	+0.040%	$57.7M	$183.7M	75x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.895%	$2K	$240K	12x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate FIL_USDT	+0.0051%	8h	0.9940	−0.040%	$8.3M	$16.1M	50x	as long as short
MEXC FIL_USDC	+0.0070%	8h	0.9939	−0.050%	$244K	$104K	50x	as long as short
BloFin FIL-USDT	+0.0093%	8h	0.9993	+0.493%	$2.7M	$610K	75x	as long as short
Lighter FIL	+0.0096%	1h	0.9941	−0.029%	$157K	$345K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9942	−0.015%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9933	−0.106%	$507K	$605K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9949	+0.050%	$15.8M	$19.1M	25x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9945	+0.010%	$11.0M	$22.2M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9944	0.000%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9940	−0.041%	$449K	$269K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	1.0032	+0.881%	$46K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9960	+0.156%	$297K	$849K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0050	+1.066%	$30K	$193K	50x	as long as short
Orderly PERP_FIL_USDC_mythosshort	+0.0100%	4h	0.9920	−0.239%	$5K	—	10x
SunX FIL-USDT	+0.0100%	8h	0.9940	−0.040%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9945	+0.010%	$490	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9958	+0.141%	$645K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9940	−0.040%	$1.1M	$2.3M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0571% / S −0.0237%	1h	0.9916	−0.278%	$264K	—	100x	as long as short