Funding arb · Price arb /

SQD

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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: Bitget against KuCoin−0.104%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,330as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,345as in the Price arb table

costs, in and out, $10k−$1,33013.300% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.104%, 7d avg +0.043%

Together, before fees+0.104%+$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: Bitget is 0.147% cheaper against KuCoin than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SQDUSDTM	0.02891	0.0100	pay 0.0050% / 4h	3h 30m	$401K	$1.3M	50x
Short	Bitget SQDUSDT	0.02888	0.0100	get 0.0050% / 4h	3h 30m	$739K	$71K	25x

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 −0.104%Rate

Funding earned: $0
Price spread: −0.104% → +0.043%: −$14.68
Slippage, 4 orders: −$1,306
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,344.68
Costs to cover: 13.300%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bitget: 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, 5 min ago	1.73 bp	604.7 bp −$605	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 40 min ago	13.86 bp	43.2 bp −$43	139.6 bp −$1,396	doesn't fit	doesn't fit

SQD 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 SQDUSDT	+0.0100%	4h	0.02889	−0.067%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02893	+0.083%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02885	−0.208%	$897K	$441K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02887	−0.138%	$608K	$41K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02893	+0.069%	$5.9M	$174K	50x	as long as short
KuCoin SQDUSDTMlong	+0.0100%	4h	0.02891	long leg	$401K	$1.3M	50x
Bitget SQDUSDTshort	+0.0100%	4h	0.02888	−0.104%	$739K	$71K	25x
BingX SQD-USDT	+0.0100%	4h	0.02889	−0.069%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02882	−0.327%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0139%	4h	0.02896	+0.173%	$82K	$41K	50x	as long as short