Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1792%/8h= +196.2% APRpaid last 24h +0.511%

Price spread now: BingX against Injective+1.071%72s7-day average +0.361% · you sell dearer than you buy

Net, funding: paid 7d − costs+$212as 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−$1431.429% of the position

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+3.551%+$355 on $10k

Price spread, last 3 days (all we have)−0.979%−$98 · spread now +1.071%, 7d avg +0.361%

Together, before fees+2.572%+$257 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and BingX is 0.709% dearer against Injective than usual: you sell high and buy low: +$71 more if the spread goes back to its 7-day average of +0.361%. The two prices were read 72 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	Injective ARB/USDC PERP	0.2195	−0.1692	get 0.0211% / 1h	8m 02s	$40K	$372K	12x
Short	BingX ARB-USDC	0.2218	0.0100	get 0.0100% / 8h	6h 08m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +1.071%Rate

Funding earned: $376.28
Price spread: +1.071% → +0.361%: $70.94
Slippage, 4 orders: −$132.84
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $304.35
Costs to cover: 1.429%
Break-even: 1.3 days

Slippage from Injective: live order book, 61 min ago; BingX: live order book, 13 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 Injective live order book, 61 min ago	50.63 bp	50.6 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	3.84 bp	25.1 bp −$25	42.0 bp −$420	99.2 bp −$9,918	633.9 bp −$317.0K

ARB on 35 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 PERPlong	−0.1692%	1h	0.2195	long leg	$40K	$372K	12x
SoDEX ARB-USD	−0.0246%	1h	0.2217	+1.021%	$10K	$2.5M	5x	as long as short
01 Exchange ARBUSD	−0.0224%	1h	0.2213	+0.843%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0157%	8h	0.2213	+0.837%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0128%	8h	0.2220	+1.125%	$22.4M	$155.8M	50x	as long as short
MEXC ARB_USDT	−0.0126%	8h	0.2216	+0.975%	$39.0M	$60.2M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0068%	8h	0.2216	+0.957%	$12K	$382K	10x	as long as short
Gate ARB_USDT	−0.0068%	8h	0.2219	+1.084%	$5.4M	$19.9M	60x	as long as short
Bybit ARBUSDT	−0.0037%	8h	0.2219	+1.103%	$56.6M	$128.3M	50x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2219	+1.096%	$352K	$2.5M	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0006%	8h	0.2220	+1.160%	$64.6M	$316.8M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2214	+0.845%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2217	+0.989%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2217	+1.000%	$10K	—	150x	as long as short
ApeX Omni ARBUSDT	+0.0071%	1h	0.2216	+0.957%	$120K	$286K	50x	as long as short
Phemex ARBUSDT	+0.0079%	8h	0.2217	+1.002%	$5.0M	$12.9M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2217	+1.016%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2217	+1.007%	$1.2M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2220	+1.157%	$38.7M	$51.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2215	+0.922%	$660K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2211	+0.730%	$42K	$183K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2219	+1.098%	$19.6M	$15.7M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2220	+1.139%	$21.2M	$36.1M	50x	as long as short
BingX ARB-USDCshort	+0.0100%	8h	0.2218	+1.071%	—	$6.5M	—
edgeX ARBUSDC	+0.0100%	4h	0.2214	+0.884%	$40K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2215	+0.931%	$481K	$3.7M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2215	+0.920%	$87K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2214	+0.866%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2218	+1.048%	$298K	$991K	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2217	+1.007%	$507K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2217	+1.016%	$827K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2214	+0.867%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2218	+1.043%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2214	+0.849%	$480K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0525%	1h	0.2224	+1.308%	$1.0M	$2.8M	20x	as long as short