Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective+4.306%85s7-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 7 days−1.032%−$103 on $10k

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 4.306% dearer against Injective than usual: you sell high and buy low: +$431 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.032%, so the current rate has only just turned in your favour. 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	19m 47s	$4K	$48K	12x
Short	KuCoin LINKUSDTM	12.934	0.0100	get 0.0100% / 8h	2h 19m	$22.8M	$13.1M	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

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 +4.306%Rate

Funding earned: $14
Price spread: +4.306% → 0.000%: $430.65
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: $432.63
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 4 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, 4 min ago	1.17 bp	10.4 bp −$10	18.0 bp −$180	55.2 bp −$5,522	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.

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.925	+4.237%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.909	+4.105%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.925	+4.231%	$157K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0039%	8h	12.918	+4.177%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	+3.881%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.927	+4.251%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.922	+4.208%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.912	+4.133%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.931	+4.281%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.920	+4.197%	$275K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.931	+4.285%	$118.9M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.929	+4.266%	$83.4M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.928	+4.258%	$27.4M	$80.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.937	+4.331%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.927	+4.250%	$124.4M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.930	+4.274%	$32.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.934	+4.306%	$22.8M	$13.1M	75x
Bitget LINKUSDT	+0.0100%	8h	12.926	+4.242%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.928	+4.258%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.887	+3.929%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.844	+3.583%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	+3.629%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	+3.621%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.928	+4.258%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.924	+4.222%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.941	+4.367%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.927	+4.250%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	+3.968%	$633K	$675K	75x	as long as short
Backpack LINK_USDC_PERP	+0.0103%	1h	12.940	+4.355%	$337K	$390K	15x	as long as short
Extended LINK-USD	+0.0104%	1h	12.923	+4.216%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.921	+4.203%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.925	+4.234%	$920K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	+3.992%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0237%	1h	12.941	+4.363%	$80.6M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.929	+4.262%	$6.6M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0322%	1h	12.934	+4.302%	$798K	$244K	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.920	+4.197%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0560%	8h	12.940	+4.355%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0732%	1h	12.918	+4.176%	$344K	$33K	10x	as long as short