Funding arb · Price arb /

HIMS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: Injective against KuCoin+1.129%7-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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Injective is 1.129% dearer against KuCoin than usual: you sell high and buy low: +$113 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HIMSUSDTM	29.220	0.0100	pay 0.0100% / 8h	6h 37m	$133K	$31K	20x
Short	Injective HIMS/USDC PERP	29.550	0.0220	get 0.0028% / 1h	37m 08s	$13K	$22K	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

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 +1.129%Rate

Funding earned: $25.2
Price spread: +1.129% → 0.000%: $112.94
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: $126.12
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 67 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, 67 min ago	32.46 bp	386.7 bp −$387	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.

HIMS on 14 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
Nado HIMS-PERP	−0.0111%	1h	29.266	+0.157%	$2K	$2K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.248	+0.095%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.247	+0.092%	$966K	$2.6M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.260	+0.137%	$297K	$118K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.220	0.000%	$286K	$174K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.244	+0.082%	$506K	$204K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.240	+0.070%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.246	+0.089%	—	$2.5M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.104	−0.397%	$7K	$37K	10x	as long as short
QFEX HIMS-USD	+0.0003%	1h	29.240	+0.068%	$1.3M	$630K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.240	+0.068%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.245	+0.086%	$3.3M	$1.6M	10x	as long as short
KuCoin HIMSUSDTMlong	+0.0100%	8h	29.220	long leg	$133K	$31K	20x
Injective HIMS/USDC PERPshort	+0.0220%	1h	29.550	+1.129%	$13K	$22K	5.5x