Funding arb · Price arb /

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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 +0.036%

Price spread now: Injective against Binance+1.901%7-day average — · you sell dearer than you buy

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

Long on Binance 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

The price spread pays, funding is against you. Injective is 1.901% dearer against Binance than usual: you sell high and buy low (spread +1.901% now, against zero (this spread has no 7-day history yet)): +$190 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ARUSDT	4.4867	0.0100	pay 0.0100% / 8h	1h 55m	$8.8M	$55.7M	75x
Short	Injective AR/USDC PERP	4.5720	0.0033	get 0.0004% / 1h	55m 17s	$3K	$339	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +1.901%Rate

Funding earned: −$14
Price spread: +1.901% → 0.000%: $190.05
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $166.03
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 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 Binance live order book, 2 min ago	1.12 bp	13.3 bp −$13	61.4 bp −$614	458.3 bp −$45.8K	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	−0.1927%	1h	4.4889	+0.048%	$46K	$154K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4903	+0.080%	$577K	—	50x	as long as short
Injective AR/USDC PERPshort	+0.0033%	1h	4.5720	+1.901%	$3K	$339	5.5x
Hyperliquid AR	+0.0100%	1h	4.4955	+0.196%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4870	+0.006%	$20K	$621K	10x	as long as short
Binance ARUSDTlong	+0.0100%	8h	4.4867	long leg	$8.8M	$55.7M	75x
Bybit ARUSDT	+0.0100%	8h	4.4880	+0.028%	$4.6M	$8.9M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4840	−0.061%	$2.2M	$20.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4870	+0.006%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4870	+0.006%	$6.8M	$4.5M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4900	+0.073%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4850	−0.039%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4870	+0.006%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4736	−0.292%	$135K	$174K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4540	−0.729%	$56K	$748K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4872	+0.011%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4820	−0.105%	$416K	$667K	20x	as long as short