Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.005%

Price spread now: Bitget against Injective−1.514%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 Bitget

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. Bitget is 1.514% cheaper against Injective than usual: you would sell low and buy high (spread −1.514% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$151 on $10k: about 3 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 AR/USDC PERP	4.4240	0.0033	pay 0.0004% / 1h	5m 19s	$2K	$5K	5.5x
Short	Bitget ARUSDT	4.3570	0.0100	get 0.0100% / 8h	7h 05m	$3.7M	$4.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpOrdersPrice spread, now −1.514%Rate

Funding earned: $14
Price spread: −1.514% → 0.000%: −$151.45
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$149.47
Costs to cover: 0.120%
Break-even: 81.7 days

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	4.58 bp	42.7 bp −$43	239.9 bp −$2,399	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.

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	−0.0984%	1h	4.3875	−0.825%	$49K	$152K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3741	−1.127%	$561K	—	50x	as long as short
Injective AR/USDC PERPlong	+0.0033%	1h	4.4240	long leg	$2K	$5K	5.5x
Hyperliquid AR	+0.0100%	1h	4.3664	−1.302%	$3.9M	$4.3M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3646	−1.342%	$32K	$220K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3620	−1.401%	$8.6M	$42.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3610	−1.424%	$4.5M	$8.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3630	−1.379%	$2.3M	$13.7M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3590	−1.469%	$2.3M	$3.7M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3630	−1.379%	$6.2M	$3.8M	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	4.3650	−1.334%	$1.1M	$1.1M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.3570	−1.514%	$3.7M	$4.7M	75x
BingX AR-USDT	+0.0100%	8h	4.3610	−1.424%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3713	−1.192%	$251K	$510K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3640	−1.356%	$21K	$705K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3631	−1.377%	$37K	$243K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3620	−1.401%	$409K	$428K	20x	as long as short