Funding arb · Price arb /

ATOM

all ATOM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0164%/8h= +17.9% APRpaid last 24h +0.013%

Price spread now: Injective against OKX+0.111%58s7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as 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−$1021.016% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.571%+$57 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now +0.111%, 7d avg +0.140%

Together, before fees+0.524%+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.029% cheaper against OKX than usual: you would sell low and buy high (spread +0.111% now, against its 7-day average of +0.140%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day). The two prices were read 58 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 ATOM-USDT-SWAP	1.8080	−0.0032	get 0.0032% / 8h	2h 40m	$5.2M	$5.0M	50x
Short	Injective ATOM/USDC PERP	1.8100	0.0132	get 0.0016% / 1h	40m 18s	$660	$117K	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 +0.111%Rate

Funding earned: $34.42
Price spread: +0.111% → +0.140%: −$2.94
Slippage, 4 orders: −$91.57
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$70.11
Costs to cover: 1.016%
Break-even: 21.3 days

Slippage from OKX: live order book, 2 min ago; Injective: live order book, 34 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, 2 min ago	2.77 bp	15.2 bp −$15	55.7 bp −$557	doesn't fit	doesn't fit
Sell Injective live order book, 34 min ago	36.12 bp	36.1 bp −$36	doesn't fit	doesn't fit	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
Deribit ATOM_USDC-PERPETUAL	−0.0136%	1h	1.8109	+0.160%	$498	$10K	25x	as long as short
Bybit ATOMUSDT	−0.0078%	8h	1.8092	+0.066%	$15.2M	$10.4M	75x	as long as short
Variational Omni ATOM	−0.0062%	8h	1.8075	−0.027%	$577K	$18K	—	as long as short
OKX ATOM-USDT-SWAPlong	−0.0032%	8h	1.8080	long leg	$5.2M	$5.0M	50x
Coinbase International ATOM-PERP-INTX	−0.0008%	1h	1.8060	−0.111%	$25K	$11K	25x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8090	+0.055%	$63K	$4K	10x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.8108	+0.157%	$9K	—	150x	as long as short
Bitget ATOMUSDT	+0.0069%	8h	1.8091	+0.061%	$6.6M	$2.6M	75x	as long as short
BloFin ATOM-USDT	+0.0077%	8h	1.8090	+0.055%	$1.1M	$325K	75x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8098	+0.100%	$2.8M	$982K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ATOMUSDT	+0.0100%	8h	1.8084	+0.020%	$984K	$238K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8112	+0.179%	$21.6M	$30.1M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.8080	0.000%	$2.5M	$828K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8120	+0.221%	$9.1M	$2.9M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8110	+0.166%	$1.6M	$803K	50x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8100	+0.111%	—	$25.0M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8062	−0.102%	$444K	$297K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8060	−0.111%	$765K	$3.0M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8082	+0.011%	$308K	$183K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.8080	0.000%	$1.6M	$1.8M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.8111	+0.171%	$6K	$184K	10x	as long as short
Injective ATOM/USDC PERPshort	+0.0132%	1h	1.8100	+0.111%	$660	$117K	12x
GMX ATOM/USD [ETH-USDC]	L +0.0198% / S −0.1417%	1h	1.8111	+0.174%	$3K	—	120x	as long as short
Kraken Futures PF_ATOMUSD	+0.0203%	1h	1.8119	+0.213%	$3.1M	$669K	50x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.8085	+0.030%	$2K	—	25x	as long as short