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: Injective against KuCoin+1.547%100s7-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 1.547% dearer against KuCoin than usual: you sell high and buy low (spread +1.547% now, against zero (this spread has no 7-day history yet)): +$155 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 100 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 NOWUSDTM	137.67	0.0100	pay 0.0100% / 8h	1h 07m	$317K	$731K	20x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	7m 37s	$3K	$101	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 +1.547%Rate

Funding earned: −$14
Price spread: +1.547% → 0.000%: $154.72
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: $128.7
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 66 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, 66 min ago	17.09 bp	252.8 bp −$253	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.

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	+0.119%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.85	+0.132%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.80	+0.094%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	+0.145%	$484K	$196K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.78	+0.080%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.76	+0.065%	$250K	$406K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.85	+0.131%	$762K	$259K	20x	as long as short
GRVT NOW_USDT_Perp	0.0000%	8h	137.88	+0.151%	$211	$170K	10x	as long as short
SunX NOW-USDT	0.0000%	8h	137.82	+0.109%	$988	$437K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.85	+0.131%	$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	+0.094%	$45K	$17K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.82	+0.109%	$5K	$173	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	+1.547%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.78	+0.080%	—	—	25x	as long as short
KuCoin NOWUSDTMlong	+0.0100%	8h	137.67	long leg	$317K	$731K	20x
tradeXYZ xyz:NOW	+0.0252%	1h	137.78	+0.080%	$2.1M	$200K	10x	as long as short