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: Binance against KuCoin+0.106%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1781.780% of the position

Long on KuCoin Short on Binance

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)−0.035%−$4 · spread now +0.106%, 7d avg +0.017%

Together, before fees−0.099%−$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: Binance is 0.089% dearer against KuCoin than usual: you sell high and buy low, +$9 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	KuCoin IOUSDTM	0.1491	0.0100	pay 0.0050% / 4h	17m 41s	$342K	$196K	50x
Short	Binance IOUSDT	0.1493	0.0100	get 0.0050% / 4h	17m 41s	$3.0M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.106%Rate

Funding earned: $0
Price spread: +0.106% → +0.017%: $8.92
Slippage, 4 orders: −$156.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$169.1
Costs to cover: 1.780%
Break-even: never at this rate

Slippage from KuCoin: live order book, 26 min ago; Binance: 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, 26 min ago	3.35 bp	70.5 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	3.36 bp	19.7 bp −$20	83.6 bp −$836	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
BloFin IO-USDT	+0.0055%	4h	0.1491	0.000%	$192K	$33K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1492	+0.094%	$1.0M	$275K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	+0.020%	$23K	$42K	5x	as long as short
Binance IOUSDTshort	+0.0100%	4h	0.1493	+0.106%	$3.0M	$5.0M	50x
Bybit IOUSDT	+0.0100%	4h	0.1491	0.000%	$1.1M	$641K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1491	−0.013%	$231K	$473K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1491	0.000%	$1.2M	$217K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1491	long leg	$342K	$196K	50x
Bitget IOUSDT	+0.0100%	4h	0.1491	0.000%	$1.4M	$976K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1492	+0.067%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1485	−0.420%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1492	+0.081%	$3K	$209K	5x	as long as short
Injective IO/USDC PERP	+0.0563%	1h	0.1492	+0.067%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.5935%	1h	0.1495	+0.248%	$39K	$7K	10x	as long as short