Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0333%/8h= +36.4% APRpaid last 24h −0.008%

Price spread now: Injective against KuCoin+0.774%70s7-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 +$10 a day on $10k at the current rate, and Injective is 0.774% dearer against KuCoin than usual: you sell high and buy low: +$77 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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 ARUSDTM	4.3900	0.0100	pay 0.0100% / 8h	3h 22m	$1.1M	$1.3M	50x
Short	Injective AR/USDC PERP	4.4240	0.0433	get 0.0054% / 1h	22m 05s	$2K	$5K	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 +0.774%Rate

Funding earned: $69.84
Price spread: +0.774% → 0.000%: $77.45
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: $135.27
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 3 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, 3 min ago	7.97 bp	102.4 bp −$102	775.6 bp −$7,756	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.

AR on 17 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_ARUSD	−0.1229%	1h	4.3902	+0.005%	$59K	$143K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.3947	+0.107%	$565K	—	50x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3921	+0.048%	$30K	$467K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3945	+0.103%	$8.6M	$50.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3946	+0.105%	$4.5M	$8.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3930	+0.068%	$2.2M	$17.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3950	+0.114%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3950	+0.114%	$6.0M	$4.2M	100x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.3900	long leg	$1.1M	$1.3M	50x
Bitget ARUSDT	+0.0100%	8h	4.3990	+0.205%	$3.8M	$5.2M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.3930	+0.068%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3942	+0.095%	$233K	$414K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3910	+0.023%	$19K	$714K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3933	+0.075%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3850	−0.114%	$414K	$468K	20x	as long as short
Hyperliquid AR	+0.0329%	1h	4.4013	+0.257%	$3.7M	$4.4M	5x	as long as short
Injective AR/USDC PERPshort	+0.0433%	1h	4.4240	+0.774%	$2K	$5K	5.5x