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: KuCoin against OKX+0.194%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$342as in the Funding arb table

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3533.534% of the position

Long on OKX Short on KuCoin

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)−0.273%−$27 · spread now +0.194%, 7d avg +0.049%

Together, before fees−0.158%−$16 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: KuCoin is 0.145% dearer against OKX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01186	0.0100	pay 0.0050% / 4h	1h 17m	$1.3M	$1.6M	20x
Short	KuCoin WUSDTM	0.01188	0.0100	get 0.0050% / 4h	1h 17m	$391K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.194%Rate

Funding earned: $0
Price spread: +0.194% → +0.049%: $14.48
Slippage, 4 orders: −$331.38
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$338.9
Costs to cover: 3.534%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; KuCoin: live order book, 25 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 OKX live order book, 4 min ago	2.10 bp	33.1 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 25 min ago	12.56 bp	137.0 bp −$137	392.5 bp −$3,925	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	0.01188	+0.169%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.965%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01188	+0.194%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	+0.082%	$3.0M	$5.4M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01185	−0.084%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01186	long leg	$1.3M	$1.6M	20x
Gate W_USDT	+0.0100%	4h	0.01185	−0.051%	$431K	$235K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01187	+0.127%	$12.4M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01188	+0.194%	$391K	$193K	50x
Bitget WUSDT	+0.0100%	4h	0.01188	+0.194%	$1.3M	$575K	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	0.01186	+0.059%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01188	+0.214%	$72K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01190	+0.344%	$125K	$383K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	+0.107%	$60K	$148K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0304%	1h	0.01196	+0.877%	$14K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0891%	1h	0.01189	+0.270%	$44K	$41K	15x	as long as short
Kraken Futures PF_WUSD	+0.1547%	1h	0.01190	+0.328%	$148K	$188K	20x	as long as short