Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.031%

Price spread now: QFEX against KuCoin−0.051%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1811.812% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.080%−$8 on $10k

Price spread, last 7 days+0.123%+$12 · spread now −0.051%, 7d avg −0.027%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.024% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COINUSDTM	196.65	0.0100	pay 0.0100% / 8h	3h 38m	$992K	$143K	20x
Short	QFEX COIN-USD	196.55	0.0020	get 0.0002% / 1h	38m 18s	$1.3M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$16.82
Price spread: −0.051% → −0.027%: −$2.36
Slippage, 4 orders: −$159.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$200.41
Costs to cover: 1.812%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; QFEX: 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, 51 min ago	16.48 bp	108.9 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.27 bp	6.3 bp −$6	9.0 bp −$90	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0693%	8h	196.82	+0.086%	$6.3M	$10.4M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.76	+0.056%	$43K	$48K	30x	as long as short
Gate COIN_USDT	−0.0224%	8h	196.71	+0.031%	$1.2M	$7.3M	50x	as long as short
Vest COIN-USD-PERP	−0.0110%	1h	196.04	−0.310%	—	$266K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.76	+0.058%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.69	+0.023%	$116K	$690K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.75	+0.051%	$14.7M	$79.9M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.80	+0.076%	$4.8M	$6.0M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.63	−0.010%	$3.0M	$4.6M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.74	+0.046%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.77	+0.059%	$10K	$2.4M	10x	as long as short
QFEX COIN-USDshort	+0.0020%	1h	196.55	−0.051%	$1.3M	$3.2M	10x
Lighter RH COIN	+0.0032%	1h	196.63	−0.010%	$451K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.90	+0.127%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.57	−0.041%	$15.4M	$13.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.52	−0.066%	$134K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.68	+0.015%	$77	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.51	−0.071%	$350K	$2.7M	10x	as long as short
edgeX COINUSDC	+0.0061%	4h	196.73	+0.040%	$51K	$294K	10x	as long as short
KuCoin COINUSDTMlong	+0.0100%	8h	196.65	long leg	$992K	$143K	20x
ApeX Omni COINUSDT	+0.0100%	1h	196.98	+0.168%	$89K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.65	0.000%	$569	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.67	+0.010%	$116	—	10x	as long as short
Lighter COIN	+0.0120%	1h	196.66	+0.004%	$340K	$2.0M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.73	+0.041%	$188K	$392K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.84	+0.097%	$4K	$283K	10x	as long as short