Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.155%

Price spread now: KuCoin against Deribit−0.179%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. KuCoin is 0.179% cheaper against Deribit than usual: you would sell low and buy high (spread −0.179% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 5.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01176	−0.0005	get 0.0001% / 1h	36m 15s	$14K	$4K	10x
Short	KuCoin WUSDTM	0.01174	0.0100	get 0.0050% / 4h	36m 15s	$386K	$192K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.179%Rate

Funding earned: $22.05
Price spread: −0.179% → 0.000%: −$17.86
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.8
Costs to cover: 0.190%
Break-even: 11.7 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 67 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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 67 min ago	12.56 bp	137.0 bp −$137	392.5 bp −$3,925	doesn't fit	doesn't fit

Deribit: 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.

W on 17 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
Deribit W_USDC-PERPETUALlong	−0.0005%	1h	0.01176	long leg	$14K	$4K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.797%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01176	−0.009%	$2.0M	$272K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01176	0.000%	$3.0M	$5.2M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01174	−0.204%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01174	−0.170%	$1.3M	$1.5M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01174	−0.170%	$427K	$233K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01175	−0.051%	$12.3M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01174	−0.179%	$386K	$192K	50x
Bitget WUSDT	+0.0100%	4h	0.01175	−0.094%	$1.3M	$568K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01175	−0.094%	—	$6.7M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01178	+0.128%	$46K	$52K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01178	+0.129%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01179	+0.247%	$126K	$378K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01176	−0.030%	$59K	$361K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01186	+0.833%	$13K	$13K	50x	as long as short
Kraken Futures PF_WUSD	+0.1324%	1h	0.01178	+0.119%	$147K	$56K	20x	as long as short