Funding arb · Price arb /

IO

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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: Gate against KuCoin−0.118%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$518as in the Funding arb table

Net, price: spread back to 7d avg − costs−$524as in the Price arb table

costs, in and out, $10k−$5155.148% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.118%, 7d avg −0.023%

Together, before fees+0.102%+$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: Gate is 0.095% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1523	0.0100	pay 0.0050% / 4h	3h 30m	$376K	$673K	50x
Short	Gate IO_USDT	0.1521	0.0100	get 0.0050% / 4h	3h 30m	$242K	$546K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → −0.023%: −$9.5
Slippage, 4 orders: −$487.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$524.28
Costs to cover: 5.148%
Break-even: never at this rate

Slippage from KuCoin: live order book, 22 min ago; Gate: live order book, 40 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, 22 min ago	6.60 bp	77.4 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 40 min ago	5.61 bp	194.0 bp −$194	doesn't fit	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	0.1523	+0.020%	$1.0M	$383K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1523	−0.023%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1523	0.000%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1522	−0.098%	$1.1M	$894K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1521	−0.118%	$242K	$546K	50x
MEXC IO_USDT	+0.0100%	4h	0.1522	−0.066%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1523	long leg	$376K	$673K	50x
Bitget IOUSDT	+0.0100%	4h	0.1522	−0.066%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1522	−0.066%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1521	−0.114%	$33K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IO-USDT	+0.0101%	4h	0.1523	0.000%	$194K	$32K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1523	−0.023%	$910	$151K	5x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	−0.394%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.0618%	1h	0.1526	+0.210%	$40K	$18K	10x	as long as short