Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0538%/8h= +58.9% APRpaid last 24h −0.035%

Price spread now: KuCoin against Injective−1.137%100s7-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

Funding pays, the price is against you. KuCoin is 1.137% cheaper against Injective than usual: you would sell low and buy high (spread −1.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$114 on $10k: about 7.0 days of funding at the current rate (+$16 a day). 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 XPT/USDC PERP	1,818	0.0220	pay 0.0028% / 1h	7m 35s	$6K	$34K	52x
Short	KuCoin XPTUSDTM	1,797.3	0.0758	get 0.0379% / 4h	7m 35s	$249K	$40K	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 −1.137%Rate

Funding earned: $112.98
Price spread: −1.137% → 0.000%: −$113.7
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: −$12.74
Costs to cover: 0.120%
Break-even: 7.8 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 4 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, 4 min ago	7.85 bp	19.4 bp −$19	179.3 bp −$1,793	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.

XPT on 21 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
HTX XPT-USDT	0.0000%	4h	1,798.6	−1.066%	$10K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,791.5	−1.458%	$230	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,793.1	−1.368%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,796.2	−1.196%	$13K	$29K	10x	as long as short
Aevo PLATINUM-PERP	+0.0216%	1h	1,797.4	−1.129%	$306	—	10x	as long as short
Injective XPT/USDC PERPlong	+0.0220%	1h	1,818	long leg	$6K	$34K	52x
tradeXYZ xyz:PLATINUM	+0.0485%	1h	1,795.6	−1.230%	$3.6M	$999K	20x	as long as short
Gate XPT_USDT	+0.0522%	4h	1,798.5	−1.073%	$734K	$506K	100x	as long as short
KuCoin XPTUSDTMshort	+0.0758%	4h	1,797.3	−1.137%	$249K	$40K	75x
Variational Omni XPT	+0.0851%	4h	1,796.8	−1.164%	$279K	$206K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPT-USD-PERP	+0.0878%	8h	1,797.6	−1.119%	$3K	—	5x	as long as short
Aster XPTUSDT	+0.0878%	4h	1,797.4	−1.129%	$14K	$9K	20x	as long as short
BloFin XPT-USDT	+0.0915%	4h	1,798.6	−1.065%	$89K	$68K	100x	as long as short
edgeX XPTUSDC	+0.0920%	4h	1,796.8	−1.166%	$39K	$281K	10x	as long as short
MEXC XPT_USDT	+0.0938%	4h	1,794.9	−1.267%	$23.6M	$646K	100x	as long as short
Binance XPTUSDT	+0.0947%	4h	1,797.2	−1.140%	$4.5M	$4.3M	100x	as long as short
Lighter XPT	+0.1000%	1h	1,798.8	−1.054%	$355K	$16K	20x	as long as short
Extended XPT-USD	+0.1008%	1h	1,792.2	−1.419%	$207K	$610K	10x	as long as short
OKX XPT-USDT-SWAP	+0.1039%	8h	1,798.1	−1.093%	$941K	$616K	50x	as long as short
Bitget XPTUSDT	+0.1048%	4h	1,796.5	−1.180%	$1.3M	$455K	100x	as long as short
GRVT XPT_USDT_Perp	+0.1272%	4h	1,797.1	−1.146%	$207K	$810K	25x	as long as short