Funding arb · Price arb /

SNX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0332%/8h= +36.3% APRpaid last 24h −0.667%

Price spread now: Injective against KuCoin−0.212%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 7 days−0.808%−$81 on $10k

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 0.212% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.212% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 2.1 days of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.808%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SNXUSDTM	0.2361	0.0100	pay 0.0100% / 8h	7h 57m	$677K	$1.8M	30x
Short	Injective SNX/USDC PERP	0.2356	0.0432	get 0.0054% / 1h	57m 18s	$24K	$30K	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 −0.212%Rate

Funding earned: $69.66
Price spread: −0.212% → 0.000%: −$21.18
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: $36.46
Costs to cover: 0.120%
Break-even: 3.3 days

Slippage unknown: KuCoin: live order book, 9 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, 9 min ago	4.25 bp	73.1 bp −$73	127.4 bp −$1,274	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.

SNX on 15 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
Hyperliquid SNX	+0.0100%	1h	0.2364	+0.119%	$436K	$160K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2361	−0.018%	$4K	$2K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2362	+0.032%	$2.9M	$4.4M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2362	+0.042%	$1.6M	$1.4M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2363	+0.085%	$852K	$1.2M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2360	−0.042%	$236K	$87K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2361	0.000%	$1.7M	$700K	100x	as long as short
KuCoin SNXUSDTMlong	+0.0100%	8h	0.2361	long leg	$677K	$1.8M	30x
Bitget SNXUSDT	+0.0100%	8h	0.2362	+0.042%	$1.1M	$382K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2361	0.000%	—	$2.3M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNX	+0.0100%	8h	0.2355	−0.268%	$12K	$3K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2354	−0.296%	$2K	$1.5M	20x	as long as short
BloFin SNX-USDT	+0.0122%	8h	0.2360	−0.042%	$152K	$69K	75x	as long as short
Injective SNX/USDC PERPshort	+0.0432%	1h	0.2356	−0.212%	$24K	$30K	12x
Kraken Futures PF_SNXUSD	+0.0922%	1h	0.2364	+0.132%	$142K	$63K	25x	as long as short