Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective+3.447%7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 3.447% dearer against Injective than usual: you sell high and buy low: +$345 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	Injective NOT/USDC PERP	0.0004874	0.0033	pay 0.0004% / 1h	49m 03s	$1K	$13K	5.5x
Short	KuCoin NOTUSDTM	0.0005042	0.0100	get 0.0050% / 4h	1h 49m	$493K	$118K	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 +3.447%Rate

Funding earned: $14
Price spread: +3.447% → 0.000%: $344.69
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: $346.67
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 23 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, 23 min ago	12.92 bp	105.1 bp −$105	295.8 bp −$2,958	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.

NOT on 16 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
Variational Omni NOT	−0.0142%	4h	0.0005038	+3.356%	$71K	$39K	—	as long as short
Injective NOT/USDC PERPlong	+0.0033%	1h	0.0004874	long leg	$1K	$13K	5.5x
BloFin NOT-USDT	+0.0095%	4h	0.0005044	+3.488%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005053	+3.666%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005050	+3.611%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005041	+3.422%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005043	+3.467%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005036	+3.324%	$2.1M	$805K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005038	+3.365%	$610K	$576K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005040	+3.406%	$140K	$78K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005042	+3.447%	$1.3M	$456K	200x	as long as short
KuCoin NOTUSDTMshort	+0.0100%	4h	0.0005042	+3.447%	$493K	$118K	50x
Bitget NOTUSDT	+0.0100%	4h	0.0005046	+3.529%	$663K	$382K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005040	+3.406%	—	$723K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005040	+3.407%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.6149%	1h	0.0005083	+4.285%	$49K	$9K	10x	as long as short