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 −0.030%

Price spread now: OKX against KuCoin−0.256%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$405as in the Funding arb table

Net, price: spread back to 7d avg − costs−$414as in the Price arb table

costs, in and out, $10k−$3933.934% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.331%+$33 · spread now −0.256%, 7d avg −0.050%

Together, before fees+0.217%+$22 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: OKX is 0.205% cheaper against KuCoin than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01173	0.0100	pay 0.0050% / 4h	2h 46m	$389K	$198K	50x
Short	OKX W-USDT-SWAP	0.01170	0.0100	get 0.0050% / 4h	2h 46m	$1.3M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.256%Rate

Funding earned: $0
Price spread: −0.256% → −0.050%: −$20.54
Slippage, 4 orders: −$371.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$413.99
Costs to cover: 3.934%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; OKX: live order book, 5 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, 11 min ago	8.52 bp	148.0 bp −$148	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.71 bp	31.3 bp −$31	doesn't fit	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	0.0000%	1h	0.01173	−0.034%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.069%	$1K	$1K	12x	as long as short
Gate W_USDT	+0.0036%	4h	0.01167	−0.469%	$427K	$237K	75x	as long as short
Hyperliquid W	+0.0100%	1h	0.01172	−0.085%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01172	−0.108%	$2.9M	$5.3M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01169	−0.315%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAPshort	+0.0100%	4h	0.01170	−0.256%	$1.3M	$1.6M	20x
MEXC W_USDT	+0.0100%	4h	0.01171	−0.145%	$12.5M	$1.3M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01173	long leg	$389K	$198K	50x
Bitget WUSDT	+0.0100%	4h	0.01172	−0.085%	$1.3M	$540K	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	0.01171	−0.153%	—	$6.7M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01174	+0.085%	$44K	$42K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01172	−0.047%	$72K	$40K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01176	+0.218%	$124K	$375K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01172	−0.100%	$60K	$147K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0400%	1h	0.01178	+0.384%	$14K	$13K	50x	as long as short
Kraken Futures PF_WUSD	+0.1739%	1h	0.01175	+0.167%	$145K	$185K	20x	as long as short