Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Injective against KuCoin+1.397%55s7-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 1.397% dearer against KuCoin than usual: you sell high and buy low (spread +1.397% now, against zero (this spread has no 7-day history yet)): +$140 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. The two prices were read 55 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	KuCoin XTZUSDTM	0.3436	0.0100	pay 0.0050% / 4h	44m 16s	$679K	$317K	30x
Short	Injective XTZ/USDC PERP	0.3484	0.0033	get 0.0004% / 1h	44m 16s	$62	$17K	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 +1.397%Rate

Funding earned: −$14
Price spread: +1.397% → 0.000%: $139.7
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: $113.68
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 19 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, 19 min ago	7.33 bp	61.0 bp −$61	doesn't fit	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.

XTZ 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
Kraken Futures PF_XTZUSD	+0.0015%	1h	0.3436	+0.007%	$278K	$223K	50x	as long as short
Injective XTZ/USDC PERPshort	+0.0033%	1h	0.3484	+1.397%	$62	$17K	5.5x
BingX XTZ-USDT	+0.0036%	4h	0.3433	−0.087%	—	$1.1M	—	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3434	−0.058%	$4.8M	$10.1M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3432	−0.116%	$2.8M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3434	−0.058%	$1.2M	$1.5M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3434	−0.058%	$637K	$202K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3431	−0.146%	$2.2M	$625K	100x	as long as short
KuCoin XTZUSDTMlong	+0.0100%	4h	0.3436	long leg	$679K	$317K	30x
Bitget XTZUSDT	+0.0100%	4h	0.3433	−0.087%	$948K	$1.2M	75x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XTZ	+0.0100%	4h	0.3433	−0.100%	$123K	$296K	—	as long as short
BloFin XTZ-USDT	+0.0145%	4h	0.3431	−0.146%	$281K	$98K	75x	as long as short