Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin+0.158%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$340as in the Funding arb table

Net, price: spread back to 7d avg − costs−$306as in the Price arb table

costs, in and out, $10k−$3283.283% of the position

Long on KuCoin Short on Bybit

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)−0.151%−$15 · spread now +0.158%, 7d avg −0.069%

Together, before fees−0.269%−$27 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: Bybit is 0.227% dearer against KuCoin than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1515	0.0100	pay 0.0050% / 4h	17m 56s	$366K	$645K	50x
Short	Bybit IOUSDT	0.1517	0.0100	get 0.0050% / 4h	17m 56s	$1.1M	$910K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.158%Rate

Funding earned: $0
Price spread: +0.158% → −0.069%: $22.74
Slippage, 4 orders: −$305.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$305.51
Costs to cover: 3.283%
Break-even: never at this rate

Slippage from KuCoin: live order book, 66 min ago; Bybit: 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, 66 min ago	3.29 bp	99.3 bp −$99	527.0 bp −$5,270	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.62 bp	74.5 bp −$74	402.8 bp −$4,028	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	0.1515	+0.013%	$1.0M	$371K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1515	−0.013%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1519	+0.252%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTshort	+0.0100%	4h	0.1517	+0.158%	$1.1M	$910K	25x
Gate IO_USDT	+0.0100%	4h	0.1516	+0.086%	$238K	$557K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1516	+0.066%	$1.2M	$229K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1515	long leg	$366K	$645K	50x
Bitget IOUSDT	+0.0100%	4h	0.1520	+0.330%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1517	+0.132%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1510	−0.315%	$33K	$13K	—	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	0.1515	−0.028%	$2K	$134K	5x	as long as short
BloFin IO-USDT	+0.0143%	4h	0.1516	+0.066%	$193K	$39K	50x	as long as short
Injective IO/USDC PERP	+0.0583%	1h	0.1505	−0.660%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.7451%	1h	0.1501	−0.919%	$39K	$18K	10x	as long as short