Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0969%/8h= −106.1% APRpaid last 24h −0.085%

Price spread now: Injective against KuCoin+9.619%85s7-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 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

The price spread pays, funding is against you. Injective is 9.619% dearer against KuCoin than usual: you sell high and buy low (spread +9.619% now, against zero (this spread has no 7-day history yet)): +$962 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 33 days. 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	KuCoin BXUSDTM	126.41	0.1189	pay 0.1189% / 8h	21m 51s	$113K	$1.1M	20x
Short	Injective BX/USDC PERP	138.57	0.0220	get 0.0028% / 1h	21m 51s	$4K	$32K	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 +9.619%Rate

Funding earned: −$203.49
Price spread: +9.619% → 0.000%: $961.95
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: $746.44
Costs to cover: 0.120%
Break-even: from the start

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	6.72 bp	262.8 bp −$263	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.

BX 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
Aster BXUSDT	0.0000%	8h	126.20	−0.165%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.55	+0.111%	$490K	$863K	25x	as long as short
QFEX BX-USD	0.0000%	1h	129.37	+2.342%	$1.1M	$1.3M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.75	+0.269%	$426K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.67	+0.206%	$903K	$44K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.50	+0.071%	$826	$305K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.60	+0.150%	$7K	$3K	20x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	138.57	+9.619%	$4K	$32K	12x
tradeXYZ xyz:BX	+0.0256%	1h	126.39	−0.016%	$665K	$187K	10x	as long as short
OKX BX-USDT-SWAP	+0.0296%	8h	126.46	+0.040%	$162K	$109K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTMlong	+0.1189%	8h	126.41	long leg	$113K	$1.1M	20x
Variational Omni BX	+0.1201%	8h	126.49	+0.064%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1568%	8h	126.45	+0.036%	$796K	$470K	20x	as long as short
GRVT BX_USDT_Perp	+0.2293%	8h	126.48	+0.054%	$637	$122K	10x	as long as short