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: Bybit against KuCoin−0.138%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,470as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,478as in the Price arb table

costs, in and out, $10k−$1,47014.703% of the position

Long on KuCoin Short on Bybit

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)+0.102%+$10 · spread now −0.138%, 7d avg −0.058%

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: Bybit is 0.080% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SQDUSDTM	0.02900	0.0100	pay 0.0050% / 4h	1h 05m	$406K	$1.3M	50x
Short	Bybit SQDUSDT	0.02896	0.0100	get 0.0050% / 4h	1h 05m	$892K	$380K	20x

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 −0.138%Rate

Funding earned: $0
Price spread: −0.138% → −0.058%: −$8
Slippage, 4 orders: −$1,447.29
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,478.29
Costs to cover: 14.703%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Bybit: live order book, 55 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, 10 min ago	1.73 bp	671.2 bp −$671	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 55 min ago	6.95 bp	57.3 bp −$57	271.7 bp −$2,717	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
BloFin SQD-USDT	+0.0074%	4h	0.02903	+0.103%	$81K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02902	+0.069%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02903	+0.120%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02896	−0.138%	$892K	$380K	20x
Gate SQD_USDT	+0.0100%	4h	0.02898	−0.069%	$611K	$31K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02903	+0.103%	$5.9M	$182K	50x	as long as short
KuCoin SQDUSDTMlong	+0.0100%	4h	0.02900	long leg	$406K	$1.3M	50x
Bitget SQDUSDT	+0.0100%	4h	0.02899	−0.034%	$741K	$57K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02898	−0.069%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02895	−0.157%	$7K	$56K	—	as long as short