Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1332%/8h= +145.9% APRpaid last 24h +0.556%

Price spread now: KuCoin against Coinbase International+0.662%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and KuCoin is 0.662% dearer against Coinbase International than usual: you sell high and buy low: +$66 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03929	−0.1232	get 0.0154% / 1h	48m 33s	$48K	$16K	25x
Short	KuCoin SUSDTM	0.03955	0.0100	get 0.0050% / 4h	2h 48m	$1.8M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.662%Rate

Funding earned: $279.72
Price spread: +0.662% → 0.000%: $66.17
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $323.89
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 3 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	6.31 bp	100.5 bp −$101	207.9 bp −$2,079	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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
01 Exchange SUSD	−0.9264%	1h	0.03850	−2.011%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1842%	1h	0.03949	+0.510%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1232%	1h	0.03929	long leg	$48K	$16K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03958	+0.741%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03953	+0.620%	$4	—	15x	as long as short
Variational Omni S	−0.0089%	4h	0.03956	+0.695%	$614K	$29K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03958	+0.750%	$610	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.352%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03959	+0.764%	$98K	$367K	10x	as long as short
Lighter S	+0.0096%	1h	0.03959	+0.764%	$168K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03957	+0.700%	$996K	$588K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03958	+0.746%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03959	+0.764%	$5.5M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03950	+0.534%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03955	+0.662%	$982K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03955	+0.662%	$322K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03957	+0.713%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03955	+0.662%	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.03958	+0.738%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03957	+0.713%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	+1.044%	$23K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03956	+0.692%	$222K	$595K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0255%	1h	0.03961	+0.814%	$67K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03953	+0.611%	$270K	$101K	75x	as long as short
Backpack S_USDC_PERP	+0.1975%	1h	0.03970	+1.044%	$115K	$426K	5x	as long as short