Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against KuCoin−5.718%7-day average — · you buy dearer than you sell

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 7 days+1.032%+$103 on $10k

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 −$2 a day on $10k at the current rate, and Injective is 5.718% cheaper against KuCoin than usual: you would sell low and buy high (−$572 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.032%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.152	0.0100	pay 0.0100% / 8h	7h 05m	$23.0M	$14.4M	75x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	5m 24s	$4K	$48K	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 −5.718%Rate

Funding earned: −$14
Price spread: −5.718% → 0.000%: −$571.78
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: −$597.8
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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, 3 min ago	1.14 bp	14.7 bp −$15	28.5 bp −$285	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.

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
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.145	−0.053%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.161	+0.068%	$471K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.146	−0.045%	$133K	—	150x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.718%	$4K	$48K	12x
Phoenix LINK	+0.0036%	1h	13.181	+0.223%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.147	−0.038%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.148	−0.030%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.221	+0.526%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.143	−0.068%	$403K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.148	−0.033%	$1.4M	$3.0M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.151	−0.008%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	−0.040%	$122.0M	$297.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.143	−0.068%	$84.7M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.145	−0.053%	$27.6M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.167	+0.114%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.146	−0.046%	$130.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.149	−0.023%	$36.3M	$59.2M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.152	long leg	$23.0M	$14.4M	75x
Bitget LINKUSDT	+0.0100%	8h	13.146	−0.046%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.145	−0.053%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.145	−0.053%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.176	+0.184%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.243%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.199	+0.357%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.151	−0.008%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.145	−0.050%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.161	+0.066%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.147	−0.038%	$14K	$32K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0100%	1h	13.152	+0.004%	$781K	$212K	50x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.131	−0.157%	$647K	$866K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.142	−0.074%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.149	−0.023%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.155	+0.023%	$997K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0157%	1h	13.156	+0.030%	$364K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.169	+0.129%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.154	+0.018%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.144	−0.064%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0433%	1h	13.145	−0.054%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0545%	1h	13.165	+0.099%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0560%	8h	13.162	+0.076%	$20.4M	$11.5M	50x	as long as short