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: Bitget against KuCoin+0.201%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$229as in the Funding arb table

Net, price: spread back to 7d avg − costs−$216as in the Price arb table

costs, in and out, $10k−$2302.296% of the position

Long on KuCoin Short on Bitget

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)−0.073%−$7 · spread now +0.201%, 7d avg +0.068%

Together, before fees−0.065%−$7 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: Bitget is 0.133% dearer against KuCoin than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1490	0.0100	pay 0.0050% / 4h	1h 03m	$336K	$191K	50x
Short	Bitget IOUSDT	0.1493	0.0100	get 0.0050% / 4h	1h 03m	$1.4M	$994K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.201%Rate

Funding earned: $0
Price spread: +0.201% → +0.068%: $13.34
Slippage, 4 orders: −$205.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$216.23
Costs to cover: 2.296%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; Bitget: live order book, 3 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, 51 min ago	6.70 bp	91.7 bp −$92	551.7 bp −$5,517	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.34 bp	36.3 bp −$36	171.9 bp −$1,719	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	0.1491	+0.094%	$996K	$267K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	+0.061%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1491	+0.058%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1489	−0.067%	$1.1M	$662K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1492	+0.128%	$231K	$480K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1489	−0.067%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1490	long leg	$336K	$191K	50x
Bitget IOUSDTshort	+0.0100%	4h	0.1493	+0.201%	$1.4M	$994K	50x
BingX IO-USDT	+0.0100%	4h	0.1491	+0.067%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1492	+0.117%	$30K	$18K	—	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	0.1490	−0.002%	$2K	$207K	5x	as long as short
BloFin IO-USDT	+0.0156%	4h	0.1494	+0.268%	$192K	$34K	50x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1498	+0.537%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8624%	1h	0.1493	+0.184%	$39K	$7K	10x	as long as short