Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.3656%/8h= −400.3% APRpaid last 24h −1.174%

Price spread now: Injective against Binance−1.578%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$110 a day on $10k at the current rate, and Injective is 1.578% cheaper against Binance than usual: you would sell low and buy high (−$158 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CCUSDT	0.1178	0.0100	pay 0.0050% / 4h	2h 32m	$11.1M	$12.0M	75x
Short	Injective CC/USDC PERP	0.1159	−0.3556	pay 0.0444% / 1h	32m 49s	$6K	$97	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −1.578%Rate

Funding earned: −$767.7
Price spread: −1.578% → 0.000%: −$157.84
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$935.56
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; Injective: no order-book sample. Net counts fees only.

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 Binance live order book, 7 min ago	3.00 bp	18.6 bp −$19	72.9 bp −$729	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CC on 18 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 CC/USDC PERPshort	−0.3556%	1h	0.1159	−1.578%	$6K	$97	5.5x
Bybit CCUSDT	−0.0205%	4h	0.1178	+0.010%	$10.7M	$3.9M	25x	as long as short
MEXC CC_USDT	−0.0204%	4h	0.1176	−0.118%	$1.6M	$314K	100x	as long as short
Paradex CC-USD-PERP	+0.0087%	8h	0.1176	−0.128%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1179	+0.103%	$5.5M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1176	−0.094%	$35K	$39K	20x	as long as short
Binance CCUSDTlong	+0.0100%	4h	0.1178	long leg	$11.1M	$12.0M	75x
OKX CC-USDT-SWAP	+0.0100%	4h	0.1179	+0.137%	$2.6M	$3.6M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1176	−0.143%	$365K	$219K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1177	−0.050%	$484K	$123K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1177	−0.024%	$932K	$805K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1178	+0.001%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1176	−0.135%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1171	−0.532%	$596K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1172	−0.454%	$79K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1175	−0.197%	$6K	$36K	6.7x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0449% / S −0.0241%	1h	0.1177	−0.058%	$44K	—	50x	as long as short
Lighter CC	+0.0768%	1h	0.1181	+0.290%	$239K	$155K	5x	as long as short