Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.141%

Price spread now: KuCoin against Injective−0.382%7-day average — · you buy dearer than you sell

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 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. KuCoin is 0.382% cheaper against Injective than usual: you would sell low and buy high (spread −0.382% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 19 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CRM/USDC PERP	238.14	0.0033	pay 0.0004% / 1h	17m 13s	$12K	$24K	12x
Short	KuCoin CRMUSDTM	237.23	0.0100	get 0.0100% / 8h	17m 13s	$103K	$649K	20x

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 −0.382%Rate

Funding earned: $14
Price spread: −0.382% → 0.000%: −$38.21
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: −$36.23
Costs to cover: 0.120%
Break-even: 25.1 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 46 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, 46 min ago	10.75 bp	640.9 bp −$641	doesn't fit	doesn't fit	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.

CRM 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
edgeX CRMUSDC	−0.0093%	4h	237.16	−0.411%	$96K	$231K	10x	as long as short
QFEX CRM-USD	−0.0013%	1h	237.24	−0.378%	$1.5M	$12.1M	10x	as long as short
Aster CRMUSDT	0.0000%	8h	237.62	−0.217%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	237.32	−0.346%	$1.8M	$1.6M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	237.12	−0.428%	$261K	$98K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	237.02	−0.470%	$458K	$141K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	237.31	−0.349%	$223K	$21K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	237.15	−0.416%	$445K	$80K	20x	as long as short
Variational Omni CRM	0.0000%	8h	237.12	−0.429%	$46K	$40K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	237.17	−0.408%	$809	$115K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CRM-USDT	0.0000%	8h	237.15	−0.416%	$885	$328K	10x	as long as short
HTX CRM-USDT	0.0000%	8h	237.36	−0.328%	$10K	$25K	20x	as long as short
Injective CRM/USDC PERPlong	+0.0033%	1h	238.14	long leg	$12K	$24K	12x
KuCoin CRMUSDTMshort	+0.0100%	8h	237.23	−0.382%	$103K	$649K	20x