Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.4413%/8h= +483.2% APRpaid last 24h +0.733%

Price spread now: Injective against KuCoin+1.281%100s7-day average — · you sell dearer than you buy

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+3.555%+$356 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 +$132 a day on $10k at the current rate, and Injective is 1.281% dearer against KuCoin than usual: you sell high and buy low: +$128 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 100 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 TAOUSDTM	315.50	0.0100	pay 0.0050% / 4h	21m 42s	$17.8M	$32.4M	75x
Short	Injective TAO/USDC PERP	319.54	0.4513	get 0.0564% / 1h	21m 42s	$23K	$2K	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 +1.281%Rate

Funding earned: $926.7
Price spread: +1.281% → 0.000%: $128.05
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: $1,042.73
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 7 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, 7 min ago	1.43 bp	15.1 bp −$15	27.8 bp −$278	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.

TAO on 43 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.32	−0.058%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0056%	1h	315.36	−0.044%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.84	+0.108%	$45K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.60	+0.032%	$26.3M	$130.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.30	−0.063%	$14.5M	$51.8M	50x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	315.50	long leg	$17.8M	$32.4M	75x
Bitget TAOUSDT	+0.0100%	4h	315.33	−0.054%	$35.4M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.26	−0.076%	$45K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.48	−0.006%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.55	+0.016%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	315.64	+0.044%	$116K	$603K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0105% / S +0.0138%	1h	315.34	−0.051%	$402K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	315.50	0.000%	$828	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	315.80	+0.094%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0161%	4h	315.50	0.000%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0167%	4h	315.31	−0.061%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	315.48	−0.006%	$102.3M	$152.2M	300x	as long as short
Binance TAOUSDT	+0.0171%	4h	315.57	+0.024%	$91.4M	$530.8M	75x	as long as short
Paradex TAO-USD-PERP	+0.0240%	8h	315.50	+0.001%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0250%	4h	315.60	+0.032%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0256%	4h	315.65	+0.048%	$69.1M	$156.8M	50x	as long as short
Bullet TAO-USD	+0.0268%	1h	315.76	+0.082%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0302%	4h	315.30	−0.063%	$536K	$921K	10x	as long as short
Pacifica TAO	+0.0313%	1h	315.61	+0.035%	$370K	$462K	10x	as long as short
Aster TAOUSDT	+0.0334%	4h	315.61	+0.035%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	315.56	+0.020%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0405%	4h	316.28	+0.247%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0442%	4h	315.60	+0.032%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0470%	1h	315.51	+0.004%	$780K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	315.98	+0.152%	$99K	$384K	5x	as long as short
Lighter TAO	+0.0512%	1h	315.74	+0.075%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0561%	4h	315.37	−0.042%	$5.5M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0575%	1h	315.59	+0.029%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	315.60	+0.032%	$317K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0659%	1h	315.52	+0.006%	$292K	$904K	10x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	316.21	+0.225%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.64	+0.043%	$363	—	20x	as long as short
Hyperliquid TAO	+0.0709%	1h	315.64	+0.044%	$93.2M	$110.4M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	315.69	+0.059%	$446K	$658K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0840%	1h	315.60	+0.031%	$5.9M	$21.7M	50x	as long as short
Bulk TAO-USD	+0.0951%	1h	316.68	+0.374%	$168K	$0	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.41	+0.288%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4513%	1h	319.54	+1.281%	$23K	$2K	12x