Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.012%

Price spread now: KuCoin against Injective−8.944%7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 8.944% cheaper against Injective than usual: you would sell low and buy high (−$894 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	101.93	0.0220	pay 0.0028% / 1h	56m 37s	$19K	$11K	30x
Short	KuCoin CLUSDTM	92.816	0.0076	get 0.0038% / 4h	2h 56m	$7.2M	$2.3M	50x

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 −8.944%Rate

Funding earned: −$30.24
Price spread: −8.944% → 0.000%: −$894.41
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: −$936.67
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 6 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, 6 min ago	1.19 bp	11.0 bp −$11	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.

CL on 36 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0612%	1h	92.760	−8.999%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0336%	4h	92.842	−8.918%	$24.0M	$74.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0328%	4h	92.784	−8.975%	$58K	$630K	25x	as long as short
Binance CLUSDT	−0.0283%	4h	92.800	−8.960%	$244.8M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.659	−9.098%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0188%	8h	92.760	−8.999%	$21.1M	$52.3M	100x	as long as short
Nado WTI-PERP	−0.0080%	1h	92.873	−8.888%	$935K	$696K	10x	as long as short
tradeXYZ xyz:CL	−0.0056%	1h	92.814	−8.946%	$186.1M	$235.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0050%	1h	92.790	−8.970%	$3.5M	$5.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−9.715%	$399K	$949K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.829	−8.931%	$274K	$906K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.800	−8.960%	$2.4M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0005%	4h	92.820	−8.940%	$43.1M	$108.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	−8.929%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.820	−8.940%	$26.4M	$86.4M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.808	−8.952%	$42.3M	$47.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.860	−8.901%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.801	−8.959%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.354	−9.397%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.800	−8.960%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.840	−8.921%	$2.1M	$25.4M	10x	as long as short
Lighter WTI	+0.0032%	1h	92.813	−8.947%	$11.2M	$10.0M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.924	−8.838%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−9.372%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.820	−8.940%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.814	−8.946%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.815	−8.945%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTMshort	+0.0076%	4h	92.816	−8.944%	$7.2M	$2.3M	50x
edgeX CLUSDC	+0.0089%	4h	92.726	−9.033%	$533K	$300K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.814	−8.946%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.870	−8.891%	$56K	$265K	50x	as long as short
Aftermath Perps WTIUSD	+0.0103%	1h	92.760	−8.999%	$2K	$28K	5x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.770	−8.989%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.795	−8.965%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	101.93	long leg	$19K	$11K	30x
BloFin CL-USDT	+0.0235%	4h	92.770	−8.989%	$4.0M	$1.2M	50x	as long as short