Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: SunX against Injective+5.040%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 SunX

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 SunX is 5.040% dearer against Injective than usual: you sell high and buy low: +$504 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 2Z/USDC PERP	0.04980	0.0033	pay 0.0004% / 1h	26m 57s	$867	$213	5.5x
Short	SunX 2Z-USDT	0.05231	0.0100	get 0.0050% / 4h	26m 57s	$1K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +5.040%Rate

Funding earned: $14
Price spread: +5.040% → 0.000%: $504.02
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $510
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	501.15 bp	doesn't fit	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.

2Z 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
Backpack 2Z_USDC_PERP	−0.0674%	1h	0.05228	+4.980%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERPlong	+0.0033%	1h	0.04980	long leg	$867	$213	5.5x
Lighter 2Z	+0.0096%	1h	0.05242	+5.261%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05238	+5.177%	$676K	$367K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05236	+5.138%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05232	+5.058%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05234	+5.100%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05235	+5.120%	$691K	$978K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05235	+5.120%	$450K	$723K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05229	+5.000%	$91K	$65K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05236	+5.141%	$293K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05230	+5.028%	$193K	$53K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05230	+5.020%	$156K	$634K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05236	+5.141%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05225	+4.921%	$33K	$29K	—	as long as short
SunX 2Z-USDTshort	+0.0100%	4h	0.05231	+5.040%	$1K	$1.2M	20x
Kraken Futures PF_2ZUSD	+0.0797%	1h	0.05239	+5.201%	$5K	$3K	10x	as long as short