Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.015%

Price spread now: Injective against KuCoin+1.128%7-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 1.128% dearer against KuCoin than usual: you sell high and buy low (spread +1.128% now, against zero (this spread has no 7-day history yet)): +$113 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 56 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARUSDTM	4.5210	0.0100	pay 0.0100% / 8h	3h 32m	$1.4M	$1.2M	50x
Short	Injective AR/USDC PERP	4.5720	0.0033	get 0.0004% / 1h	32m 41s	$3K	$376	5.5x

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

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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 +1.128%Rate

Funding earned: −$14
Price spread: +1.128% → 0.000%: $112.81
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: $86.79
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 13 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, 13 min ago	4.46 bp	91.6 bp −$92	543.2 bp −$5,432	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.

AR on 17 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
Kraken Futures PF_ARUSD	−0.2063%	1h	4.5091	−0.263%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5144	−0.147%	$580K	—	50x	as long as short
Injective AR/USDC PERPshort	+0.0033%	1h	4.5720	+1.128%	$3K	$376	5.5x
ApeX Omni ARUSDT	+0.0048%	1h	4.5090	−0.265%	$58K	$746K	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5257	+0.104%	$3.8M	$5.2M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5191	−0.042%	$20K	$639K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5202	−0.018%	$8.8M	$57.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5193	−0.038%	$4.6M	$9.2M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.5150	−0.133%	$2.3M	$21.4M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5170	−0.088%	$2.6M	$2.4M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AR_USDT	+0.0100%	8h	4.5200	−0.022%	$6.8M	$5.0M	100x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.5210	long leg	$1.4M	$1.2M	50x
Bitget ARUSDT	+0.0100%	8h	4.5170	−0.088%	$3.8M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5160	−0.111%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4956	−0.563%	$137K	$174K	—	as long as short
Extended AR-USD	+0.0104%	1h	4.5182	−0.061%	$37K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5180	−0.066%	$425K	$681K	20x	as long as short