Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1792%/8h= −196.2% APRpaid last 24h −0.515%

Price spread now: Injective against KuCoin−0.775%85s7-day average −0.441% · you buy dearer than you sell

Net, funding: paid 7d − costs−$501as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1401.404% of the position

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.608%−$361 on $10k

Price spread, last 3 days (all we have)+0.630%+$63 · spread now −0.775%, 7d avg −0.441%

Together, before fees−2.979%−$298 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$54 a day on $10k at the current rate, and Injective is 0.334% cheaper against KuCoin than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.441%). Swap the legs. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARBUSDTM	0.2220	0.0100	pay 0.0100% / 8h	6h 25m	$19.6M	$15.8M	75x
Short	Injective ARB/USDC PERP	0.2203	−0.1692	pay 0.0211% / 1h	25m 53s	$40K	$372K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.775%Rate

Funding earned: −$376.28
Price spread: −0.775% → −0.441%: −$33.39
Slippage, 4 orders: −$128.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$550.06
Costs to cover: 1.404%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Injective: live order book, 43 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, 8 min ago	1.13 bp	20.0 bp −$20	46.8 bp −$468	doesn't fit	doesn't fit
Sell Injective live order book, 43 min ago	50.63 bp	50.6 bp −$51	doesn't fit	doesn't fit	doesn't fit

ARB on 35 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
Injective ARB/USDC PERPshort	−0.1692%	1h	0.2203	−0.775%	$40K	$372K	12x
01 Exchange ARBUSD	−0.0248%	1h	0.2211	−0.401%	$7K	$2K	10x	as long as short
SoDEX ARB-USD	−0.0222%	1h	0.2212	−0.378%	$10K	$2.5M	5x	as long as short
Variational Omni ARB	−0.0171%	8h	0.2211	−0.402%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0118%	8h	0.2218	−0.108%	$22.4M	$157.0M	50x	as long as short
MEXC ARB_USDT	−0.0117%	8h	0.2220	+0.009%	$39.7M	$60.0M	200x	as long as short
Gate ARB_USDT	−0.0080%	8h	0.2219	−0.041%	$5.4M	$19.8M	60x	as long as short
Bybit ARBUSDT	−0.0072%	8h	0.2218	−0.095%	$56.8M	$128.9M	50x	as long as short
ApeX Omni ARBUSDT	−0.0069%	1h	0.2211	−0.414%	$119K	$293K	50x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0066%	1h	0.2213	−0.333%	$24K	$34K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0060%	8h	0.2212	−0.369%	$13K	$382K	10x	as long as short
Binance ARBUSDT	−0.0003%	8h	0.2218	−0.100%	$64.7M	$318.1M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2213	−0.323%	$65K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2219	−0.073%	$353K	$2.5M	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2213	−0.305%	$10K	—	150x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2213	−0.317%	$140K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2212	−0.356%	$1.2M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2220	−0.018%	$38.9M	$52.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2216	−0.186%	$660K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2214	−0.286%	$42K	$186K	10x	as long as short
KuCoin ARBUSDTMlong	+0.0100%	8h	0.2220	long leg	$19.6M	$15.8M	75x
Bitget ARBUSDT	+0.0100%	8h	0.2218	−0.099%	$21.3M	$36.4M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2218	−0.077%	—	$54.5M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2211	−0.435%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2212	−0.358%	$471K	$3.7M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2213	−0.342%	$76K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2213	−0.324%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2217	−0.167%	$298K	$998K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2212	−0.369%	$5.0M	$13.1M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2215	−0.234%	$507K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2213	−0.304%	$826K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2211	−0.404%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2213	−0.339%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2214	−0.293%	$474K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0518%	1h	0.2218	−0.081%	$1.0M	$2.9M	20x	as long as short