Funding arb · Price arb /

NOW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: KuCoin against Injective−1.524%85s7-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 1.524% cheaper against Injective than usual: you would sell low and buy high (spread −1.524% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$152 on $10k: about 3 months of funding at the current rate (+$2 a day). 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	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	7m 46s	$3K	$101	12x
Short	KuCoin NOWUSDTM	137.67	0.0100	get 0.0100% / 8h	1h 07m	$317K	$731K	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 −1.524%Rate

Funding earned: $14
Price spread: −1.524% → 0.000%: −$152.36
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: −$150.38
Costs to cover: 0.120%
Break-even: 82.2 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 66 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, 66 min ago	17.09 bp	292.1 bp −$292	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.

NOW on 16 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 NOWUSDT	0.0000%	8h	137.83	−1.408%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.84	−1.399%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.80	−1.431%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	−1.381%	$484K	$196K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.78	−1.445%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.82	−1.416%	$250K	$406K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.85	−1.395%	$762K	$259K	20x	as long as short
GRVT NOW_USDT_Perp	0.0000%	8h	137.87	−1.381%	$211	$170K	10x	as long as short
SunX NOW-USDT	0.0000%	8h	137.82	−1.416%	$988	$437K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.85	−1.395%	$5K	$26K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NOW-USDT	+0.0009%	8h	137.80	−1.431%	$45K	$17K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.82	−1.416%	$5K	$173	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.78	−1.445%	—	—	25x	as long as short
KuCoin NOWUSDTMshort	+0.0100%	8h	137.67	−1.524%	$317K	$731K	20x
tradeXYZ xyz:NOW	+0.0252%	1h	137.78	−1.445%	$2.1M	$200K	10x	as long as short