Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0453%/8h= +49.6% APRpaid last 24h −0.032%

Price spread now: Gate against Injective−1.561%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 Gate

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. Gate is 1.561% cheaper against Injective than usual: you would sell low and buy high (spread −1.561% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$156 on $10k: about 11 days of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AR/USDC PERP	4.6110	−0.0353	get 0.0044% / 1h	10m 46s	$2K	$2K	5.5x
Short	Gate AR_USDT	4.5390	0.0100	get 0.0100% / 8h	6h 10m	$2.5M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.561%Rate

Funding earned: $95.12
Price spread: −1.561% → 0.000%: −$156.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.05
Costs to cover: 0.150%
Break-even: 12.6 days

Slippage unknown: Injective: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	5.50 bp	76.7 bp −$77	199.4 bp −$1,994	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 16 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	−0.1680%	1h	4.5597	−1.113%	$56K	$149K	20x	as long as short
Injective AR/USDC PERPlong	−0.0353%	1h	4.6110	long leg	$2K	$2K	5.5x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5416	−1.505%	$584K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0107%	8h	4.5310	−1.735%	$2.3M	$19.3M	20x	as long as short
MEXC AR_USDT	+0.0068%	8h	4.5370	−1.605%	$6.5M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0070%	8h	4.5353	−1.642%	$9.1M	$52.7M	75x	as long as short
Extended AR-USD	+0.0072%	1h	4.5333	−1.685%	$37K	$240K	10x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5477	−1.373%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5468	−1.393%	$19K	$500K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5340	−1.670%	$4.7M	$8.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDTshort	+0.0100%	8h	4.5390	−1.561%	$2.5M	$2.2M	50x
KuCoin ARUSDTM	+0.0100%	8h	4.5390	−1.561%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5310	−1.735%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5360	−1.627%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5387	−1.568%	$237K	$261K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5520	−1.280%	$20K	$749K	50x	as long as short