Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective+3.927%100s7-day average — · you sell dearer than you buy

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 7 days−1.025%−$103 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 3.927% dearer against Injective than usual: you sell high and buy low: +$393 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.025%, so the current rate has only just turned in your favour. 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	41m 40s	$4K	$48K	12x
Short	KuCoin LINKUSDTM	12.887	0.0100	get 0.0100% / 8h	7h 41m	$22.8M	$12.2M	75x

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 +3.927%Rate

Funding earned: $14
Price spread: +3.927% → 0.000%: $392.74
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: $394.72
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 7 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, 7 min ago	1.93 bp	12.2 bp −$12	22.0 bp −$220	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.

LINK on 40 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
Orderly PERP_LINK_USDC	−0.0111%	8h	12.897	+4.008%	$91K	$989K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.900	+4.029%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.907	+4.090%	$514K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.900	+4.032%	$155K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.903	+4.060%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.908	+4.099%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.885	+3.914%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.881	+3.878%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.898	+4.020%	$349K	$335K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.893	+3.976%	$80.5M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.890	+3.952%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.884	+3.903%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.881	+3.879%	$118.9M	$297.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.880	+3.871%	$83.4M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.880	+3.871%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.898	+4.016%	$180K	$98K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.883	+3.895%	$133.5M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.882	+3.887%	$35.6M	$58.3M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.887	+3.927%	$22.8M	$12.2M	75x
Bitget LINKUSDT	+0.0100%	8h	12.882	+3.887%	$53.8M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.882	+3.887%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.903	+4.056%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.913	+4.140%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.914	+4.148%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.909	+4.106%	$580K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.917	+4.169%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.904	+4.065%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.901	+4.043%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.917	+4.172%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.900	+4.032%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.890	+3.952%	$630K	$721K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.876	+3.840%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.901	+4.043%	$541K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0130%	1h	12.907	+4.085%	$807K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.924	+4.226%	$930K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.905	+4.073%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.897	+4.008%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0404%	8h	12.914	+4.145%	$20.0M	$11.5M	50x	as long as short
dYdX LINK-USD	+0.1114%	1h	12.888	+3.935%	$343K	$45K	10x	as long as short