Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h −0.037%

Price spread now: BloFin against Injective+0.241%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 BloFin

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 +$4 a day on $10k at the current rate, and BloFin is 0.241% dearer against Injective than usual: you sell high and buy low: +$24 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 AR/USDC PERP	4.5720	0.0033	pay 0.0004% / 1h	57m 46s	$3K	$339	5.5x
Short	BloFin AR-USDT	4.5830	0.0175	get 0.0175% / 8h	57m 46s	$432K	$675K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.241%Rate

Funding earned: $29.67
Price spread: +0.241% → 0.000%: $24.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $41.71
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 19 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 BloFin live order book, 19 min ago	6.57 bp	15.1 bp −$15	41.6 bp −$416	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	−0.1963%	1h	4.5853	+0.290%	$47K	$157K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5890	+0.372%	$590K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0014%	8h	4.5800	+0.175%	$2.4M	$20.9M	20x	as long as short
Injective AR/USDC PERPlong	+0.0033%	1h	4.5720	long leg	$3K	$339	5.5x
MEXC AR_USDT	+0.0054%	8h	4.5830	+0.241%	$6.9M	$4.4M	100x	as long as short
Binance ARUSDT	+0.0055%	8h	4.5827	+0.234%	$9.0M	$55.6M	75x	as long as short
Extended AR-USD	+0.0056%	1h	4.5827	+0.234%	$37K	$237K	10x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5926	+0.451%	$4.1M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5837	+0.256%	$20K	$613K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5830	+0.241%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5860	+0.306%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5910	+0.416%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5880	+0.350%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5830	+0.241%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5609	−0.243%	$139K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5680	−0.087%	$58K	$748K	50x	as long as short
BloFin AR-USDTshort	+0.0175%	8h	4.5830	+0.241%	$432K	$675K	20x