Funding arb · Price arb /

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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−0.042%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$337as in the Funding arb table

Net, price: spread back to 7d avg − costs−$325as in the Price arb table

costs, in and out, $10k−$3303.304% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.042%, 7d avg −0.092%

Together, before fees+0.007%+$1 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 0.050% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01188	0.0100	pay 0.0050% / 4h	1h 56m	$389K	$212K	50x
Short	Bybit WUSDT	0.01188	0.0100	get 0.0050% / 4h	1h 56m	$4.2M	$1.9M	50x

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 −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.092%: $4.98
Slippage, 4 orders: −$307.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$325.44
Costs to cover: 3.304%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; Bybit: live order book, 1 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, 41 min ago	16.88 bp	152.4 bp −$152	310.4 bp −$3,104	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.24 bp	30.7 bp −$31	159.4 bp −$1,594	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	−0.0002%	1h	0.01190	+0.152%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.768%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01190	+0.168%	$2.0M	$385K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01190	+0.202%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDTshort	+0.0100%	4h	0.01188	−0.042%	$4.2M	$1.9M	50x
OKX W-USDT-SWAP	+0.0100%	4h	0.01188	+0.042%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01190	+0.168%	$449K	$251K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01190	+0.177%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01188	long leg	$389K	$212K	50x
Bitget WUSDT	+0.0100%	4h	0.01190	+0.168%	$1.3M	$567K	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	0.01188	+0.025%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01179	−0.745%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01182	−0.505%	$129K	$393K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01190	+0.178%	$60K	$234K	5x	as long as short
Backpack W_USDC_PERP	+0.0297%	1h	0.01184	−0.362%	$44K	$46K	15x	as long as short
Coinbase International W-PERP-INTX	+0.0312%	1h	0.01187	−0.118%	$14K	$15K	50x	as long as short
Kraken Futures PF_WUSD	+0.1706%	1h	0.01191	+0.282%	$148K	$180K	20x	as long as short