Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.2847%/8hpaid last 24h −0.582%

Price spread now: KuCoin against Injective+0.014%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−3.334%−$333 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$85 a day on $10k at the current rate. 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 TAO/USDC PERP	291.06	0.2947	pay 0.0368% / 1h	21m 36s	$21K	$39K	12x
Short	KuCoin TAOUSDTM	291.10	0.0100	get 0.0050% / 4h	21m 36s	$19.6M	$21.1M	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 +0.014%Rate

Funding earned: −$597.78
Price spread: +0.014% → 0.000%: $1.37
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: −$608.42
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 11 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, 11 min ago	0.17 bp	17.4 bp −$17	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.

TAO on 43 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
Bulk TAO-USD	−0.3319%	1h	293.88	+0.969%	$194K	$44K	10x	as long as short
Kraken Futures PF_TAOUSD	−0.0160%	1h	291.74	+0.235%	$5.3M	$13.8M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	291.34	+0.096%	$74K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0010%	1h	291.45	+0.134%	$34K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	290.99	−0.024%	$33K	$477K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	291.23	+0.058%	$1.7M	$5.0M	50x	as long as short
Pacifica TAO	+0.0100%	1h	291.39	+0.113%	$338K	$373K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	290.93	−0.045%	$79.0M	$334.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	291.05	−0.003%	$51.0M	$87.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	290.90	−0.055%	$23.2M	$71.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus TAO-USD	+0.0100%	1h	291.52	+0.158%	$127K	$579K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	291.10	+0.014%	$11.5M	$44.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	291.22	+0.055%	$104.2M	$105.6M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	291.10	+0.014%	$19.6M	$21.1M	75x
Bitget TAOUSDT	+0.0100%	4h	290.69	−0.127%	$32.9M	$36.8M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	290.94	−0.041%	—	$29.8M	—	as long as short
Variational Omni TAO	+0.0100%	4h	294.61	+1.221%	$3.2M	$5.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	292.58	+0.522%	$38K	$272K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	292.36	+0.446%	$513K	$871K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	293.54	+0.852%	$44K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	291.98	+0.316%	$84K	$507K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	291.56	+0.170%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	291.65	+0.203%	$53K	$235K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	291.35	+0.100%	$1K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	291.42	+0.124%	$122K	$312K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	291.32	+0.089%	$3.1M	$7.5M	50x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	290.91	−0.052%	$3K	$340K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	291.71	+0.224%	$160K	$998	3x	as long as short
Paradex TAO-USD-PERP	+0.0105%	8h	291.09	+0.009%	$13K	$376	10x	as long as short
Nado TAO-PERP	+0.0179%	1h	291.63	+0.198%	$1.0M	$1.3M	10x	as long as short
Extended TAO-USD	+0.0192%	1h	291.15	+0.032%	$805K	$1.4M	25x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0219%	1h	291.75	+0.237%	$23K	$1.0M	25x	as long as short
Phoenix TAO	+0.0336%	1h	294.20	+1.079%	$312K	$158K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	292.24	+0.405%	$4.0M	$7.2M	100x	as long as short
Lighter TAO	+0.0424%	1h	291.56	+0.173%	$1.3M	$2.4M	5x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	291.05	−0.003%	$3K	$4K	5x	as long as short
RISEx TAO/USDC	+0.0478%	1h	291.06	0.000%	$335K	$451K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0479% / S −0.0195%	1h	291.29	+0.079%	$439K	—	100x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	291.81	+0.259%	$336	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0872%	1h	293.09	+0.697%	$1.5M	$4.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0905%	1h	291.73	+0.230%	$404K	$498K	10x	as long as short
Hyperliquid TAO	+0.1295%	1h	291.72	+0.227%	$83.0M	$55.5M	5x	as long as short
Injective TAO/USDC PERPlong	+0.2947%	1h	291.06	long leg	$21K	$39K	12x