Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1667%/8h= −182.6% APRpaid last 24h −0.483%

Price spread now: Injective against OKX−0.439%48s7-day average −0.370% · you buy dearer than you sell

Net, funding: paid 7d − costs−$461as 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−$1201.196% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.414%−$341 on $10k

Price spread, last 3 days (all we have)+0.973%+$97 · spread now −0.439%, 7d avg −0.370%

Together, before fees−2.441%−$244 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$50 a day on $10k at the current rate, and Injective is 0.069% cheaper against OKX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.370%). Swap the legs. The two prices were read 48 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 ARB-USDT-SWAP	0.2233	−0.0102	get 0.0102% / 8h	1h 42m	$22.3M	$163.2M	50x
Short	Injective ARB/USDC PERP	0.2223	−0.1770	pay 0.0221% / 1h	42m 32s	$40K	$283K	12x

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 −0.439%Rate

Funding earned: −$350.15
Price spread: −0.439% → −0.370%: −$6.88
Slippage, 4 orders: −$109.6
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$476.66
Costs to cover: 1.196%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Injective: live order book, 41 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 OKX live order book, 1 min ago	0.22 bp	9.1 bp −$9	20.9 bp −$209	doesn't fit	doesn't fit
Sell Injective live order book, 41 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	0.2223	−0.439%	$40K	$283K	12x
01 Exchange ARBUSD	−0.0224%	1h	0.2233	+0.027%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0157%	8h	0.2228	−0.213%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDT	−0.0138%	8h	0.2233	−0.013%	$57.5M	$135.7M	50x	as long as short
OKX ARB-USDT-SWAPlong	−0.0102%	8h	0.2233	long leg	$22.3M	$163.2M	50x
MEXC ARB_USDT	−0.0102%	8h	0.2233	+0.009%	$36.6M	$62.2M	200x	as long as short
SoDEX ARB-USD	−0.0068%	1h	0.2234	+0.036%	$4K	$2.8M	5x	as long as short
Polymarket Perps ARB-USD	−0.0060%	1h	0.2233	+0.018%	$76K	$2.2M	10x	as long as short
Orderly PERP_ARB_USDC	−0.0025%	8h	0.2234	+0.054%	$10K	$394K	10x	as long as short
Binance ARBUSDT	−0.0011%	8h	0.2233	+0.009%	$63.6M	$322.5M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ARB-USD	−0.0008%	1h	0.2232	−0.032%	$355K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2233	−0.002%	$66K	$4K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2235	+0.081%	$26K	$32K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2235	+0.089%	$55K	—	150x	as long as short
Gate ARB_USDT	+0.0023%	8h	0.2233	+0.004%	$5.5M	$20.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2235	+0.099%	$146K	$12K	3x	as long as short
Bitget ARBUSDT	+0.0082%	8h	0.2232	−0.036%	$20.9M	$38.0M	50x	as long as short
BingX ARB-USDC	+0.0083%	8h	0.2231	−0.076%	—	$6.5M	—	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2236	+0.160%	$1.1M	$5.2M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2234	+0.045%	$1.3M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2237	+0.170%	$39.9M	$52.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2234	+0.032%	$694K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2234	+0.036%	$44K	$197K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2235	+0.107%	$20.6M	$16.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2232	−0.031%	$36K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2232	−0.036%	$480K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2232	−0.036%	$121K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2235	+0.099%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2234	+0.063%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2234	+0.054%	$5.2M	$13.5M	50x	as long as short
BloFin ARB-USDT	+0.0109%	8h	0.2234	+0.045%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2236	+0.143%	$507K	$2.5M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2235	+0.085%	$836K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2233	−0.010%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2235	+0.119%	$493K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0627%	1h	0.2238	+0.219%	$1.1M	$2.7M	20x	as long as short