Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h 0.000%

Price spread now: Injective against OKX+0.981%7-day average −0.271% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−2.098%−$210 · spread now +0.981%, 7d avg −0.271%

Together, before fees−2.103%−$210 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.252% dearer against OKX than usual: you sell high and buy low (spread +0.981% now, against its 7-day average of −0.271%): +$125 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.005% in total) that is about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2447	0.0100	pay 0.0100% / 8h	58m 49s	$32.6M	$117.9M	50x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	58m 49s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +0.981%Rate

Funding earned: −$14
Price spread: +0.981% → −0.271%: $125.21
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $101.19
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	2.04 bp	7.0 bp −$7	10.5 bp −$105	28.0 bp −$2,805	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.

ADA on 37 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
Kalshi KXADAPERP	0.0000%	8h	0.2449	+0.082%	$172K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	+0.096%	$84K	—	150x	as long as short
dYdX ADA-USD	+0.0029%	1h	0.2449	+0.062%	$201K	$2K	10x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	+0.981%	$849	$202K	12x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	+0.123%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.127%	$43.1M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	+0.051%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.128%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	+0.045%	$103.2M	$407.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	+0.041%	$72.6M	$125.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2447	long leg	$32.6M	$117.9M	50x
Gate ADA_USDT	+0.0100%	8h	0.2447	0.000%	$100.2M	$64.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	0.000%	$53.2M	$65.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.025%	$29.4M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	−0.041%	$66.4M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2448	+0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	+0.094%	$139K	$487K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.044%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2451	+0.154%	$65K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	+0.123%	$298K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	+0.123%	$79K	$893K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.086%	$127K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.308%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	+0.163%	$8K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.127%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2450	+0.119%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	+0.123%	$47.5M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	+0.034%	$514K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2451	+0.146%	$21K	$250	20x	as long as short
Lighter ADA	+0.0120%	1h	0.2452	+0.200%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2449	+0.082%	$366K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2453	+0.229%	$4K	$111K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.163%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2450	+0.103%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0280%	1h	0.2450	+0.123%	$6.3M	$13.9M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0403%	1h	0.2451	+0.180%	$624K	$616K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0602% / S −0.0679%	1h	0.2450	+0.107%	$156K	—	100x	as long as short