Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin0.000%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$812as in the Funding arb table

Net, price: spread back to 7d avg − costs−$815as in the Price arb table

costs, in and out, $10k−$8128.122% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.086%+$9 · spread now 0.000%, 7d avg +0.030%

Together, before fees+0.086%+$9 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: OKX is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08142	0.0100	pay 0.0050% / 4h	5m 19s	$324K	$56K	25x
Short	OKX INIT-USDT-SWAP	0.08142	0.0100	get 0.0050% / 4h	5m 19s	$132K	$634K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.030%: −$3.02
Slippage, 4 orders: −$790.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$815.24
Costs to cover: 8.122%
Break-even: never at this rate

Slippage from KuCoin: live order book, 20 min ago; OKX: live order book, 25 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, 20 min ago	16.58 bp	226.4 bp −$226	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 25 min ago	4.31 bp	43.0 bp −$43	doesn't fit	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	0.08143	+0.016%	$295K	$239K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08141	−0.012%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08145	+0.042%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08131	−0.135%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08142	0.000%	$132K	$634K	10x
Gate INIT_USDT	+0.0100%	8h	0.08138	−0.049%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08144	+0.025%	$443K	$217K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08142	long leg	$324K	$56K	25x
Bitget INITUSDT	+0.0100%	4h	0.08142	0.000%	$425K	$312K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08143	+0.012%	—	$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	0.08127	−0.185%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0115%	4h	0.08145	+0.037%	$157K	$109K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0396%	1h	0.08152	+0.122%	$6K	$18K	10x	as long as short