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: BingX against KuCoin+0.067%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$216as in the Funding arb table

Net, price: spread back to 7d avg − costs−$209as in the Price arb table

costs, in and out, $10k−$2172.167% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.067%, 7d avg −0.011%

Together, before fees−0.002%$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: BingX is 0.078% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1489	0.0100	pay 0.0050% / 4h	1h 01m	$335K	$194K	50x
Short	BingX IO-USDT	0.1490	0.0100	get 0.0050% / 4h	1h 01m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → −0.011%: $7.77
Slippage, 4 orders: −$194.75
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$208.98
Costs to cover: 2.167%
Break-even: never at this rate

Slippage from KuCoin: live order book, 53 min ago; BingX: live order book, 13 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, 53 min ago	6.70 bp	91.7 bp −$92	551.7 bp −$5,517	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	10.06 bp	32.6 bp −$33	79.5 bp −$795	460.3 bp −$46.0K	569.8 bp −$284.9K

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	+0.0070%	4h	0.1491	+0.134%	$192K	$34K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1489	+0.034%	$995K	$267K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1490	+0.063%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1490	+0.037%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1488	−0.094%	$1.1M	$660K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1490	+0.094%	$230K	$481K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1488	−0.067%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1489	long leg	$335K	$194K	50x
Bitget IOUSDT	+0.0100%	4h	0.1492	+0.201%	$1.4M	$994K	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1490	+0.067%	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1492	+0.184%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1489	+0.015%	$2K	$207K	5x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1498	+0.604%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8620%	1h	0.1493	+0.261%	$39K	$7K	10x	as long as short