Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: KuCoin against Injective−1.391%70s7-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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 1.391% cheaper against Injective than usual: you would sell low and buy high (−$139 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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	Injective HIMS/USDC PERP	29.470	0.0220	pay 0.0028% / 1h	30m 00s	$13K	$22K	5.5x
Short	KuCoin HIMSUSDTM	29.060	0.0100	get 0.0100% / 8h	1h 30m	$135K	$41K	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 −1.391%Rate

Funding earned: −$25.2
Price spread: −1.391% → 0.000%: −$139.12
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: −$176.34
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 10 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, 10 min ago	12.00 bp	371.5 bp −$371	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.

HIMS 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 HIMSUSDT	0.0000%	8h	29.042	−1.451%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.070	−1.357%	$964K	$2.7M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.050	−1.425%	$290K	$136K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.100	−1.256%	$281K	$130K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.060	−1.391%	$504K	$203K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.070	−1.358%	$97K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.065	−1.374%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.086	−1.303%	$7K	$39K	10x	as long as short
QFEX HIMS-USD	+0.0004%	1h	29.070	−1.357%	$1.3M	$514K	10x	as long as short
Vest HIMS-USD-PERP	+0.0046%	1h	29.050	−1.425%	—	—	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin HIMSUSDTMshort	+0.0100%	8h	29.060	−1.391%	$135K	$41K	20x
Nado HIMS-PERP	+0.0119%	1h	29.062	−1.385%	$2K	$2K	10x	as long as short
tradeXYZ xyz:HIMS	+0.0153%	1h	29.076	−1.337%	$3.4M	$1.6M	10x	as long as short
Injective HIMS/USDC PERPlong	+0.0220%	1h	29.470	long leg	$13K	$22K	5.5x