Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0113%/8h= +12.3% APRpaid last 24h +0.033%

Price spread now: Injective against OKX−1.039%78s7-day average — · you buy dearer than you sell

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

Long on OKX 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

Funding pays, the price is against you. Injective is 1.039% cheaper against OKX than usual: you would sell low and buy high (spread −1.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$104 on $10k: about 31 days of funding at the current rate (+$3 a day). The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AR-USDT-SWAP	4.6200	−0.0079	get 0.0079% / 8h	8m 02s	$2.4M	$21.1M	20x
Short	Injective AR/USDC PERP	4.5720	0.0033	get 0.0004% / 1h	8m 02s	$3K	$339	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −1.039%Rate

Funding earned: $23.64
Price spread: −1.039% → 0.000%: −$103.9
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$90.27
Costs to cover: 0.100%
Break-even: 33.7 days

Slippage unknown: OKX: live order book, just now; 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 OKX live order book, just now	2.17 bp	23.1 bp −$23	218.2 bp −$2,182	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	−0.1948%	1h	4.6209	+0.019%	$52K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.6256	+0.120%	$594K	—	50x	as long as short
OKX AR-USDT-SWAPlong	−0.0079%	8h	4.6200	long leg	$2.4M	$21.1M	20x
Binance ARUSDT	+0.0007%	8h	4.6219	+0.042%	$9.3M	$55.6M	75x	as long as short
Extended AR-USD	+0.0008%	1h	4.6206	+0.012%	$38K	$237K	10x	as long as short
MEXC AR_USDT	+0.0008%	8h	4.6210	+0.022%	$6.7M	$4.5M	100x	as long as short
Injective AR/USDC PERPshort	+0.0033%	1h	4.5720	−1.039%	$3K	$339	5.5x
BloFin AR-USDT	+0.0033%	8h	4.6270	+0.152%	$441K	$682K	20x	as long as short
ApeX Omni ARUSDT	+0.0064%	1h	4.6300	+0.216%	$23K	$764K	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.6319	+0.258%	$4.3M	$4.9M	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ARUSDT	+0.0100%	8h	4.6285	+0.185%	$20K	$606K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.6210	+0.022%	$4.6M	$8.8M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6250	+0.108%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6220	+0.043%	$1.5M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.6200	0.000%	$4.0M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.6220	+0.043%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6108	−0.198%	$143K	$176K	—	as long as short