Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.018%

Price spread now: KuCoin against Injective−11.473%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

Funding pays, the price is against you. KuCoin is 11.473% cheaper against Injective than usual: you would sell low and buy high (spread −11.473% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,147 on $10k: about 19 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	102.13	0.0033	pay 0.0004% / 1h	57m 13s	$19K	$5K	30x
Short	KuCoin CLUSDTM	90.416	0.0100	get 0.0050% / 4h	2h 57m	$6.9M	$2.8M	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 −11.473%Rate

Funding earned: $14
Price spread: −11.473% → 0.000%: −$1,147.32
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: −$1,145.34
Costs to cover: 0.120%
Break-even: 579.7 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 1 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, 1 min ago	1.60 bp	10.4 bp −$10	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	−0.0413%	1h	90.480	−11.410%	$181K	$415K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0365%	1h	90.509	−11.382%	$270K	$1.0M	25x	as long as short
Aster CLUSD1	−0.0195%	4h	90.489	−11.401%	$24.4M	$61.3M	20x	as long as short
Binance CLUSDT	−0.0115%	4h	90.330	−11.557%	$244.4M	$1.04B	100x	as long as short
Variational Omni CL	−0.0100%	4h	90.468	−11.422%	$13.0M	$11.0M	—	as long as short
Bitget CLUSDT	−0.0098%	4h	90.457	−11.433%	$40.7M	$45.9M	100x	as long as short
Gate CL_USDT	−0.0095%	8h	90.330	−11.557%	$22.9M	$50.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	90.382	−11.506%	$176.2M	$207.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0066%	4h	90.468	−11.423%	$70K	$616K	25x	as long as short
Nado WTI-PERP	−0.0045%	1h	90.572	−11.321%	$936K	$614K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0042%	4h	90.370	−11.518%	$41.0M	$110.9M	50x	as long as short
Aftermath Perps WTIUSD	−0.0033%	1h	90.614	−11.280%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0023%	1h	90.560	−11.332%	$2.2M	$2.9M	10x	as long as short
edgeX CLUSDC	−0.0014%	4h	90.409	−11.480%	$517K	$357K	30x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.952	−11.927%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.589	−11.303%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.376	−11.512%	$26.4M	$91.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.570	−11.322%	$2.9M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.488	−11.403%	$18K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.590	−11.303%	$408K	$1.0M	15x	as long as short
Phoenix WTIOIL	+0.0009%	1h	90.470	−11.420%	$36K	$36K	20x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	90.519	−11.372%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	90.438	−11.452%	$11.0M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	90.520	−11.371%	$1.6M	$13.7M	10x	as long as short
Injective WTI/USDC PERPlong	+0.0033%	1h	102.13	long leg	$19K	$5K	30x
Ondo Perps WTI-USD.P	+0.0036%	1h	90.520	−11.371%	$3.5M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	90.690	−11.205%	$705K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.520	−11.371%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.513	−11.378%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.430	−11.459%	$2.0M	$82K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.595	−11.298%	$334K	$573K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	90.416	−11.473%	$6.9M	$2.8M	50x
ApeX Omni CLUSDT	+0.0100%	1h	90.490	−11.401%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.477	−11.414%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0197%	4h	90.400	−11.489%	$4.0M	$997K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0184%	1h	90.485	−11.406%	$84K	—	111x	as long as short