Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.136%

Price spread now: Injective against KuCoin−0.143%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 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.143% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRMUSDTM	238.48	0.0100	pay 0.0100% / 8h	1h 41m	$99K	$412K	20x
Short	Injective CRM/USDC PERP	238.14	0.0033	get 0.0004% / 1h	41m 05s	$12K	$12K	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 −0.143%Rate

Funding earned: −$14
Price spread: −0.143% → 0.000%: −$14.26
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: −$40.28
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 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, 2 min ago	8.81 bp	273.9 bp −$274	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.

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	−0.0511%	4h	238.50	+0.010%	$96K	$230K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	238.55	+0.031%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	238.76	+0.117%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	238.46	−0.008%	$262K	$74K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	238.46	−0.008%	$460K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	238.57	+0.038%	$216K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	238.01	−0.197%	$445K	$30K	20x	as long as short
Variational Omni CRM	0.0000%	8h	238.50	+0.010%	$50K	$45K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	238.41	−0.031%	$792	$118K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	238.52	+0.017%	$923	$265K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRM-USDT	0.0000%	8h	238.65	+0.071%	$10K	$30K	20x	as long as short
QFEX CRM-USD	+0.0016%	1h	238.43	−0.021%	$1.1M	$3.9M	10x	as long as short
Injective CRM/USDC PERPshort	+0.0033%	1h	238.14	−0.143%	$12K	$12K	12x
KuCoin CRMUSDTMlong	+0.0100%	8h	238.48	long leg	$99K	$412K	20x