Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1859%/8h= −203.5% APRpaid last 24h −0.520%

Price spread now: Injective against BingX−0.646%57s7-day average −0.386% · you buy dearer than you sell

Net, funding: paid 7d − costs−$474as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.173% of the position

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.562%−$356 on $10k

Price spread, last 3 days (all we have)+1.718%+$172 · spread now −0.646%, 7d avg −0.386%

Together, before fees−1.845%−$184 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$56 a day on $10k at the current rate, and Injective is 0.260% cheaper against BingX than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.386%). Swap the legs. The two prices were read 57 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	BingX ARB-USDT	0.2227	0.0089	pay 0.0089% / 8h	1h 54m	—	$53.8M	—
Short	Injective ARB/USDC PERP	0.2213	−0.1770	pay 0.0221% / 1h	54m 30s	$40K	$283K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now −0.646%Rate

Funding earned: −$390.32
Price spread: −0.646% → −0.386%: −$26.01
Slippage, 4 orders: −$107.24
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$533.59
Costs to cover: 1.173%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Injective: live order book, 29 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 BingX live order book, 14 min ago	1.57 bp	7.9 bp −$8	10.6 bp −$106	18.3 bp −$1,830	67.9 bp −$34.0K
Sell Injective live order book, 29 min ago	51.28 bp	51.3 bp −$51	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	−0.1770%	1h	0.2213	−0.646%	$40K	$283K	12x
01 Exchange ARBUSD	−0.0200%	1h	0.2228	+0.022%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0157%	8h	0.2221	−0.267%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDT	−0.0132%	8h	0.2227	−0.013%	$57.3M	$136.3M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0109%	8h	0.2227	−0.027%	$22.3M	$163.4M	50x	as long as short
MEXC ARB_USDT	−0.0108%	8h	0.2228	+0.049%	$36.8M	$62.0M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0022%	8h	0.2228	+0.027%	$10K	$391K	10x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2227	−0.001%	$353K	$2.4M	25x	as long as short
Binance ARBUSDT	−0.0013%	8h	0.2227	−0.013%	$63.4M	$323.6M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2229	+0.093%	$66K	$4K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2228	+0.040%	$26K	$32K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2229	+0.063%	$55K	—	150x	as long as short
Gate ARB_USDT	+0.0010%	8h	0.2229	+0.067%	$5.5M	$20.6M	60x	as long as short
SoDEX ARB-USD	+0.0064%	1h	0.2227	0.000%	$4K	$2.9M	5x	as long as short
Polymarket Perps ARB-USD	+0.0070%	1h	0.2228	+0.013%	$76K	$2.2M	10x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2228	+0.033%	$146K	$12K	3x	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2231	+0.142%	$1.1M	$5.2M	50x	as long as short
Bitget ARBUSDT	+0.0088%	8h	0.2227	−0.018%	$20.9M	$38.1M	50x	as long as short
BingX ARB-USDTlong	+0.0089%	8h	0.2227	long leg	—	$53.8M	—
Lighter ARB	+0.0096%	1h	0.2229	+0.081%	$1.3M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2230	+0.121%	$39.8M	$52.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2229	+0.075%	$692K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2230	+0.112%	$44K	$200K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2230	+0.103%	$20.5M	$16.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2218	−0.417%	$36K	$456K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2220	−0.336%	$477K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2221	−0.287%	$120K	$296K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2226	−0.063%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2228	+0.004%	$275K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2228	+0.027%	$5.2M	$13.6M	50x	as long as short
BloFin ARB-USDT	+0.0104%	8h	0.2229	+0.063%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2231	+0.162%	$506K	$2.5M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2229	+0.068%	$834K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2227	−0.031%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2231	+0.153%	$492K	$2.8M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0722%	1h	0.2232	+0.211%	$1.1M	$2.7M	20x	as long as short