Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.034%

Price spread now: Bybit against Injective−0.139%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$990.995% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 3 days (all we have)+0.085%+$8 · spread now −0.139%, 7d avg −0.099%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.039% cheaper against Injective than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.099%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ATOM/USDC PERP	1.8000	0.0126	pay 0.0016% / 1h	15m 07s	$657	$117K	12x
Short	Bybit ATOMUSDT	1.7975	−0.0076	pay 0.0076% / 8h	3h 15m	$15.1M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$42.41
Price spread: −0.139% → −0.099%: −$3.95
Slippage, 4 orders: −$88.45
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$145.83
Costs to cover: 0.995%
Break-even: never at this rate

Slippage from Injective: live order book, 78 min ago; Bybit: live order book, 3 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, 78 min ago	36.36 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.77 bp	13.4 bp −$13	25.0 bp −$250	95.2 bp −$9,522	doesn't fit

ATOM on 25 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
Bybit ATOMUSDTshort	−0.0076%	8h	1.7975	−0.139%	$15.1M	$10.7M	75x
Variational Omni ATOM	−0.0049%	8h	1.8005	+0.029%	$576K	$18K	—	as long as short
Deribit ATOM_USDC-PERPETUAL	−0.0028%	1h	1.7997	−0.017%	$495	$10K	25x	as long as short
OKX ATOM-USDT-SWAP	−0.0004%	8h	1.7970	−0.167%	$5.2M	$5.0M	50x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8020	+0.111%	$63K	$4K	10x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.7998	−0.010%	$9K	—	150x	as long as short
Bitget ATOMUSDT	+0.0085%	8h	1.7976	−0.133%	$6.6M	$2.7M	75x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.7989	−0.061%	$2.8M	$1.0M	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.7980	−0.111%	$978K	$237K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8000	0.000%	$21.4M	$30.9M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ATOM_USDT	+0.0100%	8h	1.7990	−0.056%	$2.5M	$854K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.7980	−0.111%	$9.0M	$2.9M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8000	0.000%	$1.6M	$847K	50x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.7980	−0.111%	—	$25.2M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8019	+0.105%	$443K	$296K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8020	+0.112%	$768K	$2.9M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.7972	−0.156%	$307K	$183K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.8000	0.000%	$1.6M	$1.9M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.7989	−0.059%	$6K	$184K	10x	as long as short
BloFin ATOM-USDT	+0.0111%	8h	1.8020	+0.111%	$1.1M	$324K	75x	as long as short
Injective ATOM/USDC PERPlong	+0.0126%	1h	1.8000	long leg	$657	$117K	12x
GMX ATOM/USD [ETH-USDC]	L +0.0198% / S −0.1417%	1h	1.8003	+0.015%	$3K	—	120x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.7975	−0.138%	$2K	—	25x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0232%	1h	1.8020	+0.111%	$25K	$12K	25x	as long as short
Kraken Futures PF_ATOMUSD	+0.0267%	1h	1.8013	+0.074%	$3.1M	$673K	50x	as long as short