Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit0.000%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$318as in the Funding arb table

Net, price: spread back to 7d avg − costs−$337as in the Price arb table

costs, in and out, $10k−$3303.301% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now 0.000%, 7d avg +0.070%

Together, before fees+0.096%+$10 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% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1479	0.0100	pay 0.0050% / 4h	47m 05s	$1.1M	$519K	25x
Short	KuCoin IOUSDTM	0.1479	0.0100	get 0.0050% / 4h	47m 05s	$337K	$190K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.070%: −$6.97
Slippage, 4 orders: −$307.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$337.09
Costs to cover: 3.301%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 47 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 Bybit live order book, 2 min ago	3.39 bp	85.9 bp −$86	447.6 bp −$4,476	doesn't fit	doesn't fit
Sell KuCoin live order book, 47 min ago	6.80 bp	78.4 bp −$78	533.7 bp −$5,337	doesn't fit	doesn't fit

IO on 14 exchanges

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 IO/USDC PERP	+0.0033%	1h	0.1494	+1.014%	$2K	$185	5.5x	as long as short
BloFin IO-USDT	+0.0059%	4h	0.1479	0.000%	$189K	$27K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1481	+0.122%	$990K	$273K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1481	+0.103%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1481	+0.135%	$2.9M	$4.4M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1479	long leg	$1.1M	$519K	25x
Gate IO_USDT	+0.0100%	4h	0.1481	+0.128%	$214K	$397K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1478	−0.068%	$1.2M	$201K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1479	0.000%	$337K	$190K	50x
Bitget IOUSDT	+0.0100%	4h	0.1480	+0.068%	$1.3M	$793K	50x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1481	+0.135%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1478	−0.094%	$28K	$20K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1481	+0.102%	$724	$205K	5x	as long as short
Kraken Futures PF_IOUSD	+3.9965%	1h	0.1485	+0.385%	$51K	$19K	10x	as long as short