Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0566%/8h= +61.9% APRpaid last 24h −0.003%

Price spread now: Injective against Bitget+4.512%7-day average — · you sell dearer than you buy

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

Long on Bitget 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

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Injective is 4.512% dearer against Bitget than usual: you sell high and buy low: +$451 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	Bitget ARUSDT	4.2330	0.0100	pay 0.0100% / 8h	2h 00m	$3.7M	$5.6M	75x
Short	Injective AR/USDC PERP	4.4240	0.0666	get 0.0083% / 1h	0m 45s	$2K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +4.512%Rate

Funding earned: $118.8
Price spread: +4.512% → 0.000%: $451.22
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $557.99
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: 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 Bitget live order book, 2 min ago	4.73 bp	32.4 bp −$32	92.9 bp −$929	doesn't fit	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	−0.0914%	1h	4.2165	−0.389%	$52K	$185K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2303	−0.063%	$543K	—	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2378	+0.113%	$3.4M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2333	+0.007%	$42K	$460K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2328	−0.005%	$8.4M	$53.0M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2318	−0.028%	$4.2M	$9.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2320	−0.024%	$2.2M	$17.4M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2270	−0.142%	$2.0M	$3.5M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2330	0.000%	$5.9M	$4.4M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.2340	+0.024%	$1.1M	$1.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDTlong	+0.0100%	8h	4.2330	long leg	$3.7M	$5.6M	75x
BingX AR-USDT	+0.0100%	8h	4.2320	−0.024%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2267	−0.148%	$239K	$629K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2450	+0.283%	$20K	$717K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2310	−0.046%	$35K	$247K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2310	−0.047%	$409K	$458K	20x	as long as short
Injective AR/USDC PERPshort	+0.0666%	1h	4.4240	+4.512%	$2K	$5K	5.5x