Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.153%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$339as in the Funding arb table

Net, price: spread back to 7d avg − costs−$350as in the Price arb table

costs, in and out, $10k−$3393.386% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.153%, 7d avg −0.043%

Together, before fees+0.093%+$9 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: BingX is 0.110% cheaper against KuCoin than usual: you would sell low and buy high, −$11 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 WUSDTM	0.01178	0.0100	pay 0.0050% / 4h	1h 00m	$388K	$192K	50x
Short	BingX W-USDT	0.01176	0.0100	get 0.0050% / 4h	1h 00m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.153%Rate

Funding earned: $0
Price spread: −0.153% → −0.043%: −$11.01
Slippage, 4 orders: −$316.65
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$349.66
Costs to cover: 3.386%
Break-even: never at this rate

Slippage from KuCoin: live order book, 42 min ago; BingX: live order book, 7 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, 42 min ago	12.56 bp	154.4 bp −$154	479.8 bp −$4,798	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	4.66 bp	24.5 bp −$25	59.8 bp −$598	524.6 bp −$52.5K	1066.7 bp −$533.3K

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	0.0000%	1h	0.01178	−0.034%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.632%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01178	0.000%	$2.0M	$285K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01178	−0.042%	$3.0M	$5.3M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01175	−0.255%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01176	−0.144%	$1.3M	$1.5M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01175	−0.238%	$427K	$236K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01178	−0.034%	$12.3M	$1.4M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01178	long leg	$388K	$192K	50x
Bitget WUSDT	+0.0100%	4h	0.01178	0.000%	$1.3M	$554K	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-USDTshort	+0.0100%	4h	0.01176	−0.153%	—	$6.7M	—
Variational Omni W	+0.0100%	4h	0.01175	−0.264%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01179	+0.085%	$124K	$383K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01177	−0.067%	$63K	$165K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0304%	1h	0.01196	+1.537%	$14K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0614%	1h	0.01179	+0.093%	$44K	$41K	15x	as long as short
Kraken Futures PF_WUSD	+0.1560%	1h	0.01180	+0.185%	$147K	$145K	20x	as long as short