Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Bybit against KuCoin−0.087%7-day average −0.190% · you buy dearer than you sell

Net, funding: paid 7d − costs−$827as in the Funding arb table

Net, price: spread back to 7d avg − costs−$793as in the Price arb table

costs, in and out, $10k−$8048.036% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$23 on $10k

Price spread, last 7 days−0.201%−$20 · spread now −0.087%, 7d avg −0.190%

Together, before fees−0.435%−$44 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.103% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.190%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HUSDTM	0.06929	0.0100	pay 0.0050% / 4h	1h 50m	$1.6M	$10.1M	8x
Short	Bybit HUSDT	0.06923	0.0100	get 0.0050% / 4h	1h 50m	$7.6M	$5.0M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.190%: $10.32
Slippage, 4 orders: −$780.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$793.27
Costs to cover: 8.036%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	3.60 bp	421.8 bp −$422	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.78 bp	38.5 bp −$39	158.8 bp −$1,588	doesn't fit	doesn't fit

H on 14 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−9.799%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0060%	4h	0.06924	−0.072%	$591K	$114K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06930	+0.010%	$113K	$57K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06936	+0.108%	$14.8M	$11.2M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.06923	−0.087%	$7.6M	$5.0M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.06939	+0.144%	$1.8M	$6.6M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06922	−0.101%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06940	+0.159%	$6.2M	$1.2M	20x	as long as short
KuCoin HUSDTMlong	+0.0100%	4h	0.06929	long leg	$1.6M	$10.1M	8x
Bitget HUSDT	+0.0100%	4h	0.06934	+0.072%	$1.7M	$451K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06924	−0.072%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06908	−0.298%	$9K	$7K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06936	+0.102%	$1.2M	$451K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06938	+0.131%	$14K	$95K	5x	as long as short