Funding arb · Price arb /

IO

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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 0.000%

Price spread now: KuCoin against Binance+0.054%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$197as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2032.033% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.054%, 7d avg −0.017%

Together, before fees−0.042%−$4 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: KuCoin is 0.070% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1491	0.0100	pay 0.0050% / 4h	1h 47m	$3.0M	$5.1M	50x
Short	KuCoin IOUSDTM	0.1492	0.0100	get 0.0050% / 4h	1h 47m	$350K	$194K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.054%Rate

Funding earned: $0
Price spread: +0.054% → −0.017%: $7.03
Slippage, 4 orders: −$181.32
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$196.29
Costs to cover: 2.033%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; KuCoin: live order book, 7 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 Binance live order book, 5 min ago	3.35 bp	19.7 bp −$20	108.2 bp −$1,082	6999.6 bp −$700.0K	doesn't fit
Sell KuCoin live order book, 7 min ago	6.70 bp	70.1 bp −$70	378.9 bp −$3,789	doesn't fit	doesn't fit

IO 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
Hyperliquid IO	+0.0100%	1h	0.1492	+0.047%	$991K	$272K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	0.000%	$23K	$47K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1491	long leg	$3.0M	$5.1M	50x
Bybit IOUSDT	+0.0100%	4h	0.1490	−0.081%	$1.1M	$689K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1492	+0.027%	$227K	$464K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1490	−0.081%	$1.2M	$225K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1492	+0.054%	$350K	$194K	50x
Bitget IOUSDT	+0.0100%	4h	0.1493	+0.121%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1491	−0.014%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1490	−0.097%	$30K	$20K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1492	+0.027%	$4K	$220K	5x	as long as short
BloFin IO-USDT	+0.0136%	4h	0.1496	+0.322%	$193K	$35K	50x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1499	+0.523%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8670%	1h	0.1491	−0.016%	$38K	$7K	10x	as long as short