Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h −0.081%

Price spread now: Injective against KuCoin−6.549%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

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

Funding pays, the price is against you. Injective is 6.549% cheaper against KuCoin than usual: you would sell low and buy high (spread −6.549% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$655 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HUSDTM	0.06688	0.0016	pay 0.0008% / 4h	44m 56s	$1.6M	$10.0M	8x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	44m 56s	$1K	$1	5.5x

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

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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 KuCoinbpFee InjectivebpOrdersPrice spread, now −6.549%Rate

Funding earned: $3.64
Price spread: −6.549% → 0.000%: −$654.9
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$663.28
Costs to cover: 0.120%
Break-even: 1282.6 days

Slippage unknown: KuCoin: live order book, 3 min ago; Injective: no order-book sample. 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 KuCoin live order book, 3 min ago	3.73 bp	363.8 bp −$364	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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.

H on 14 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
KuCoin HUSDTMlong	+0.0016%	4h	0.06688	long leg	$1.6M	$10.0M	8x
Injective H/USDC PERPshort	+0.0033%	1h	0.06250	−6.549%	$1K	$1	5.5x
BloFin H-USDT	+0.0077%	4h	0.06686	−0.030%	$580K	$108K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06687	−0.013%	$109K	$54K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06692	+0.060%	$14.3M	$11.0M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06677	−0.164%	$7.4M	$4.9M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06693	+0.075%	$1.8M	$6.0M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06683	−0.075%	$2.7M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06692	+0.060%	$6.0M	$1.1M	20x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06671	−0.254%	$1.7M	$448K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06692	+0.060%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06676	−0.175%	$7K	$9K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06690	+0.030%	$1.1M	$434K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06690	+0.035%	$9K	$100K	5x	as long as short