Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.008%

Price spread now: KuCoin against Injective−1.115%70s7-day average −0.587% · you buy dearer than you sell

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 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+1.040%+$104 · spread now −1.115%, 7d avg −0.587%

Together, before fees+1.104%+$110 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.527% cheaper against Injective than usual: you would sell low and buy high (spread −1.115% now, against its 7-day average of −0.587%). If the spread goes back, that is −$53 on $10k: about 26 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.064% in total) that is about 58 days. The two prices were read 70 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	Injective DOT/USDC PERP	1.2020	0.0033	pay 0.0004% / 1h	27m 56s	$328	$121K	12x
Short	KuCoin DOTUSDTM	1.1886	0.0100	get 0.0100% / 8h	4h 27m	$6.5M	$9.2M	75x

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

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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 InjectivebpFee KuCoinbpOrdersPrice spread, now −1.115%Rate

Funding earned: $14
Price spread: −1.115% → −0.587%: −$52.75
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: −$50.77
Costs to cover: 0.120%
Break-even: 32.4 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 5 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, 5 min ago	2.96 bp	13.7 bp −$14	38.9 bp −$389	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.

DOT on 29 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 DOT_USDC-PERPETUAL	−0.1848%	1h	1.1891	−1.073%	$228K	$116K	50x	as long as short
Coinbase International DOT-PERP-INTX	−0.0608%	1h	1.1890	−1.082%	$196K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1899	−1.010%	$257	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1896	−1.032%	$143K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1890	−1.081%	$3K	—	150x	as long as short
Injective DOT/USDC PERPlong	+0.0033%	1h	1.2020	long leg	$328	$121K	12x
Lighter DOT	+0.0096%	1h	1.1888	−1.100%	$269K	$634K	10x	as long as short
OKX DOT-USDT-SWAP	+0.0096%	8h	1.1904	−0.965%	$9.4M	$24.5M	50x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1888	−1.098%	$5.3M	$3.4M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1885	−1.123%	$858K	$580K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1894	−1.045%	$43.8M	$85.3M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1905	−0.957%	$24.4M	$19.0M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1880	−1.165%	$6.6M	$11.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1905	−0.957%	$27.2M	$52.4M	300x	as long as short
KuCoin DOTUSDTMshort	+0.0100%	8h	1.1886	−1.115%	$6.5M	$9.2M	75x
Bitget DOTUSDT	+0.0100%	8h	1.1897	−1.023%	$22.7M	$14.8M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1889	−1.090%	—	$29.7M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1883	−1.140%	$93K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1868	−1.261%	$540K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1863	−1.304%	$35K	$336K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1867	−1.270%	$236K	$420K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1890	−1.082%	$8K	$24K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1903	−0.973%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1905	−0.957%	$259K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1897	−1.027%	$17K	$304K	25x	as long as short
Phemex DOTUSDT	+0.0149%	8h	1.1900	−0.998%	$2.3M	$2.2M	50x	as long as short
Kraken Futures PF_DOTUSD	+0.0213%	1h	1.1888	−1.099%	$4.4M	$1.5M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1919	−0.840%	$2.2M	$900K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0302% / S −0.1012%	1h	1.1891	−1.072%	$22K	—	100x	as long as short