Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.001%

Price spread now: KuCoin against Injective+0.044%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.044% dearer against Injective than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AR/USDC PERP	4.5890	0.0033	pay 0.0004% / 1h	12m 36s	$3K	$319	5.5x
Short	KuCoin ARUSDTM	4.5910	0.0100	get 0.0100% / 8h	7h 12m	$1.4M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now +0.044%Rate

Funding earned: $14
Price spread: +0.044% → 0.000%: $4.36
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.34
Costs to cover: 0.120%
Break-even: 3.8 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	5.44 bp	96.4 bp −$96	519.9 bp −$5,199	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AR 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
Kraken Futures PF_ARUSD	−0.2408%	1h	4.5868	−0.047%	$52K	$135K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5934	+0.097%	$589K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0133%	8h	4.5890	0.000%	$2.4M	$19.8M	20x	as long as short
Extended AR-USD	0.0000%	1h	4.5900	+0.022%	$38K	$240K	10x	as long as short
MEXC AR_USDT	0.0000%	8h	4.5910	+0.044%	$6.5M	$4.4M	100x	as long as short
Binance ARUSDT	+0.0002%	8h	4.5930	+0.087%	$9.2M	$53.3M	75x	as long as short
Injective AR/USDC PERPlong	+0.0033%	1h	4.5890	long leg	$3K	$319	5.5x
BloFin AR-USDT	+0.0048%	8h	4.5840	−0.109%	$442K	$537K	20x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5993	+0.224%	$4.2M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5884	−0.014%	$21K	$499K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.5891	+0.002%	$4.6M	$8.5M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5900	+0.022%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTMshort	+0.0100%	8h	4.5910	+0.044%	$1.4M	$1.2M	50x
Bitget ARUSDT	+0.0100%	8h	4.5890	0.000%	$4.0M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5900	+0.022%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6023	+0.290%	$143K	$168K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.6000	+0.240%	$23K	$741K	50x	as long as short