Funding arb · Price arb /

MEW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective+9.955%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 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 9.955% dearer against Injective than usual: you sell high and buy low: +$995 more if the spread goes back to zero (this spread has no 7-day history yet). 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 MEW/USDC PERP	0.0004219	0.0033	pay 0.0004% / 1h	51m 41s	$46	$14K	5.5x
Short	KuCoin MEWUSDTM	0.0004639	0.0100	get 0.0050% / 4h	1h 51m	$335K	$116K	30x

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 +9.955%Rate

Funding earned: $14
Price spread: +9.955% → 0.000%: $995.5
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: $997.48
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 45 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, 45 min ago	4.32 bp	232.5 bp −$233	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.

MEW on 12 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 MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004640	+9.979%	—	—	100x	as long as short
Injective MEW/USDC PERPlong	+0.0033%	1h	0.0004219	long leg	$46	$14K	5.5x
Binance MEWUSDT	+0.0100%	4h	0.0004646	+10.128%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004641	+10.002%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004642	+10.026%	$524K	$747K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004640	+9.979%	$135K	$120K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004646	+10.121%	$386K	$173K	125x	as long as short
KuCoin MEWUSDTMshort	+0.0100%	4h	0.0004639	+9.955%	$335K	$116K	30x
Bitget MEWUSDT	+0.0100%	4h	0.0004645	+10.097%	$499K	$370K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004643	+10.050%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004663	+10.529%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.1046%	1h	0.0004653	+10.278%	$93K	$107K	10x	as long as short