NOW

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0313%/8h= −34.3% APRnext payment −$3.13 per $10,000 · paid last 24h +0.012%

Price spread now: KuCoin against Bybit+0.007%7-day average −0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$696as in the Funding arb table

Net, price: spread back to 7d avg − costs−$687as in the Price arb table

costs, in and out, $10k−$7007.002% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.007%, 7d avg −0.127%

Together, before fees+0.065%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.134% dearer against Bybit than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.127%): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 34 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.13 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOWUSDT	140.52	0.0413	pay 0.0413% / 8h	6h 08m	$1.6M	$207K	25x
Short	KuCoin NOWUSDTM	140.53	0.0100	get 0.0100% / 8h	6h 08m	$311K	$747K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$65.78
Price spread: +0.007% → −0.127%: $13.38
Slippage, 4 orders: −$677.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$752.58
Costs to cover: 7.002%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 38 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 Bybit live order book, 1 min ago	2.85 bp	34.7 bp −$35	167.6 bp −$1,676	doesn't fit	doesn't fit
Sell KuCoin live order book, 38 min ago	3.91 bp	278.6 bp −$279	doesn't fit	doesn't fit	doesn't fit

NOW on 16 exchanges

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
OKX NOW-USDT-SWAP	0.0000%	8h	140.44	−0.057%	$514K	$252K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	140.36	−0.114%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	140.50	−0.014%	$241K	$353K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.46	−0.043%	$819K	$285K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	140.60	+0.057%	$787	$278K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	140.77	+0.178%	$5K	$37K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.49	−0.021%	$5K	$309	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.512%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	140.40	−0.085%	—	—	25x	as long as short
KuCoin NOWUSDTMshort	+0.0100%	8h	140.53	+0.007%	$311K	$747K	20x

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDT	+0.0116%	8h	140.38	−0.098%	$41K	$4K	20x	as long as short
BloFin NOW-USDT	+0.0208%	8h	140.66	+0.100%	$46K	$19K	20x	as long as short
Binance NOWUSDT	+0.0217%	8h	140.57	+0.036%	$1.9M	$1.5M	20x	as long as short
tradeXYZ xyz:NOW	+0.0393%	1h	140.48	−0.028%	$2.1M	$244K	10x	as long as short
Bybit NOWUSDTlong	+0.0413%	8h	140.52	long leg	$1.6M	$207K	25x
GRVT NOW_USDT_Perp	+0.0571%	8h	140.59	+0.050%	$209	$119K	10x	as long as short