Funding you earn now, next payment 03:00 UTC−0.2175%/8h= −238.1% APRnext payment −$2.72 per $10,000 · paid last 24h −0.619%
Price spread now: Injective against Backpack−0.735%7-day average −0.498% · you buy dearer than you sell
Net, funding: paid 7d − costs−$494as in the Funding arb table
Net, price: spread back to 7d avg − costs−$144as in the Price arb table
costs, in and out, $10k−$1201.200% of the position
Funding, last 7 days−3.740%−$374 on $10k
+Price spread, last 4 days (all we have)+2.978%+$298 · spread now −0.735%, 7d avg −0.498%
=Both sides work against this trade now: funding costs −$65 a day on $10k at the current rate, and Injective is 0.237% cheaper against Backpack than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.498%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ARB_USDC_PERP | 0.2243 | 0.0598 | pay 0.0075% / 1h | 20m 14s | $1.0M | $2.8M | 20x |
| Short | Injective ARB/USDC PERP | 0.2227 | −0.1577 | pay 0.0197% / 1h | 20m 14s | $40K | $372K | 12x |
Backpack ARB_USDC_PERP
Injective ARB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$456.66
- Price spread: −0.735% → −0.498%
- −$23.75
- Slippage, 4 orders
- −$110.03
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$600.46
- Costs to cover
- 1.200%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; Injective: live order book, 44 min ago.
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 Backpack live order book, 4 min ago | 1.12 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 44 min ago | 51.70 bp | 51.7 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERPshort | −0.1577% | 1h | 0.2227 | −0.735% | $40K | $372K | 12x | |
| Deribit ARB_USDC-PERPETUAL | −0.0197% | 1h | 0.2236 | −0.352% | $25K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0147% | 8h | 0.2240 | −0.177% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0136% | 8h | 0.2235 | −0.401% | $22.5M | $151.0M | 50x | as long as short |
| MEXC ARB_USDT | −0.0135% | 8h | 0.2234 | −0.437% | $38.2M | $59.2M | 200x | as long as short |
| 01 Exchange ARBUSD | −0.0120% | 1h | 0.2235 | −0.401% | $7K | $2K | 10x | as long as short |
| Gate ARB_USDT | −0.0117% | 8h | 0.2234 | −0.406% | $5.4M | $19.2M | 60x | as long as short |
| Polymarket Perps ARB-USD | −0.0100% | 1h | 0.2234 | −0.415% | $93K | $2.1M | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0097% | 1h | 0.2236 | −0.348% | $1.1M | $4.4M | 50x | as long as short |
| Bybit ARBUSDT | −0.0092% | 8h | 0.2235 | −0.401% | $56.9M | $125.9M | 50x | as long as short |
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
01 Exchange ARBUSD
Gate ARB_USDT
Polymarket Perps ARB-USD
Kraken Futures PF_ARBUSD
Bybit ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX ARB-USD | −0.0074% | 1h | 0.2235 | −0.379% | $10K | $2.4M | 5x | as long as short |
| Orderly PERP_ARB_USDC | −0.0072% | 8h | 0.2235 | −0.379% | $13K | $386K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2238 | −0.237% | $66K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2236 | −0.334% | $11K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0023% | 8h | 0.2235 | −0.370% | $65.1M | $306.9M | 75x | as long as short |
| Extended ARB-USD | +0.0024% | 1h | 0.2234 | −0.420% | $356K | $2.5M | 25x | as long as short |
| Phemex ARBUSDT | +0.0071% | 8h | 0.2235 | −0.379% | $5.0M | $12.9M | 50x | as long as short |
| Bitget ARBUSDT | +0.0081% | 8h | 0.2234 | −0.423% | $21.3M | $34.6M | 50x | as long as short |
| BingX ARB-USDT | +0.0084% | 8h | 0.2235 | −0.401% | — | $54.0M | — | as long as short |
| BloFin ARB-USDT | +0.0085% | 8h | 0.2240 | −0.174% | $3.1M | $2.7M | 75x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2236 | −0.329% | $142K | $7K | 3x | as long as short |
| ApeX Omni ARBUSDT | +0.0089% | 1h | 0.2238 | −0.245% | $121K | $283K | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2235 | −0.374% | $1.2M | $6.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2236 | −0.343% | $38.8M | $49.1M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2237 | −0.296% | $655K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2238 | −0.241% | $43K | $175K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2235 | −0.388% | $19.7M | $15.4M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2224 | −0.871% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2236 | −0.334% | $484K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2237 | −0.290% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2234 | −0.423% | $299K | $930K | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2244 | +0.022% | $511K | $2.0M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2236 | −0.348% | $488K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2236 | −0.349% | $834K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2233 | −0.453% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0598% | 1h | 0.2243 | long leg | $1.0M | $2.8M | 20x |
SoDEX ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Phemex ARBUSDT
Bitget ARBUSDT
BingX ARB-USDT
BloFin ARB-USDT
Aevo ARB-PERP
ApeX Omni ARBUSDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP