Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin−0.017%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1881.876% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now −0.017%, 7d avg +0.006%

Together, before fees+0.105%+$11 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: Binance is 0.023% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01181	0.0100	pay 0.0050% / 4h	19m 48s	$464K	$215K	50x
Short	Binance WUSDT	0.01181	0.0100	get 0.0050% / 4h	19m 48s	$2.9M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.006%: −$2.27
Slippage, 4 orders: −$165.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$189.86
Costs to cover: 1.876%
Break-even: never at this rate

Slippage from KuCoin: live order book, 43 min ago; Binance: live order book, 4 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, 43 min ago	12.72 bp	69.1 bp −$69	292.7 bp −$2,927	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.55 bp	20.2 bp −$20	74.0 bp −$740	doesn't fit	doesn't fit

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-PERPETUAL	−0.0173%	1h	0.01181	−0.017%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0014%	4h	0.01180	−0.102%	$1.3M	$2.0M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.371%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01181	0.000%	$2.0M	$421K	5x	as long as short
Binance WUSDTshort	+0.0100%	4h	0.01181	−0.017%	$2.9M	$6.8M	50x
Bybit WUSDT	+0.0100%	4h	0.01178	−0.220%	$4.1M	$1.9M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01179	−0.203%	$445K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01181	−0.008%	$12.8M	$1.5M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01181	long leg	$464K	$215K	50x
Bitget WUSDT	+0.0100%	4h	0.01181	0.000%	$1.3M	$572K	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	0.01179	−0.144%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01177	−0.314%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01179	−0.137%	$127K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01181	−0.036%	$59K	$228K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01183	+0.161%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0500%	1h	0.01182	+0.068%	$44K	$46K	15x	as long as short
Kraken Futures PF_WUSD	+0.0718%	1h	0.01183	+0.204%	$147K	$181K	20x	as long as short