Funding arb · Price arb /

MAGMA

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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 +0.015%

Price spread now: Bitget against KuCoin+0.328%7-day average +0.226% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$2522.519% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$19 on $10k

Price spread, last 4 days (all we have)−0.251%−$25 · spread now +0.328%, 7d avg +0.226%

Together, before fees−0.445%−$45 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 0.102% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.226%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MAGMAUSDTM	0.2289	0.0100	pay 0.0050% / 4h	3h 04m	$266K	$31K	20x
Short	Bitget MAGMAUSDT	0.2296	0.0100	get 0.0050% / 4h	3h 04m	$2.2M	$922K	20x

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 +0.328%Rate

Funding earned: $0
Price spread: +0.328% → +0.226%: $10.18
Slippage, 4 orders: −$227.93
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$241.75
Costs to cover: 2.519%
Break-even: never at this rate

Slippage from KuCoin: live order book, 46 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, 46 min ago	33.51 bp	115.0 bp −$115	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	5.43 bp	21.9 bp −$22	92.9 bp −$929	doesn't fit	doesn't fit

MAGMA on 10 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
Aster MAGMAUSDT	+0.0100%	4h	0.2294	+0.232%	$1.4M	$354K	5x	as long as short
Bybit MAGMAUSDT	+0.0100%	4h	0.2295	+0.262%	$1.7M	$1.1M	20x	as long as short
KuCoin MAGMAUSDTMlong	+0.0100%	4h	0.2289	long leg	$266K	$31K	20x
Bitget MAGMAUSDTshort	+0.0100%	4h	0.2296	+0.328%	$2.2M	$922K	20x
Variational Omni MAGMA	+0.0100%	4h	0.2298	+0.401%	$11K	$3K	—	as long as short
BingX MAGMA-USDT	+0.0134%	4h	0.2297	+0.350%	—	$1.4M	—	as long as short
Binance MAGMAUSDT	+0.0136%	4h	0.2297	+0.350%	$4.5M	$7.0M	20x	as long as short
Extended MAGMA-USD	+0.0136%	1h	0.2294	+0.236%	$965	—	5x	as long as short
MEXC MAGMA_USDT	+0.0136%	4h	0.2296	+0.301%	$11.4M	$275K	50x	as long as short
Gate MAGMA_USDT	+0.0154%	4h	0.2294	+0.218%	$963K	$237K	20x	as long as short