Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.147%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$807as in the Funding arb table

Net, price: spread back to 7d avg − costs−$807as in the Price arb table

costs, in and out, $10k−$8028.020% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.147%, 7d avg −0.099%

Together, before fees+0.001%$0 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 0.048% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08175	0.0100	pay 0.0050% / 4h	2h 21m	$325K	$55K	25x
Short	Bybit INITUSDT	0.08163	0.0100	get 0.0050% / 4h	2h 21m	$1.4M	$1.4M	25x

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 −0.147%Rate

Funding earned: $0
Price spread: −0.147% → −0.099%: −$4.78
Slippage, 4 orders: −$778.99
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$806.77
Costs to cover: 8.020%
Break-even: never at this rate

Slippage from KuCoin: live order book, 59 min ago; Bybit: live order book, 5 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, 59 min ago	16.43 bp	474.1 bp −$474	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	5.52 bp	45.5 bp −$46	90.1 bp −$901	doesn't fit	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08170	−0.057%	$297K	$234K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08173	−0.023%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08173	−0.023%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08163	−0.147%	$1.4M	$1.4M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08158	−0.208%	$132K	$629K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08170	−0.061%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08174	−0.012%	$444K	$216K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08175	long leg	$325K	$55K	25x
Bitget INITUSDT	+0.0100%	4h	0.08169	−0.073%	$426K	$311K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08172	−0.037%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08159	−0.199%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0157%	4h	0.08170	−0.061%	$154K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08169	−0.073%	$6K	$17K	10x	as long as short