Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.039%

Price spread now: Injective against Gate−0.485%84s7-day average +1.883% · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−1.203%−$120 · spread now −0.485%, 7d avg +1.883%

Together, before fees−1.123%−$112 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.368% cheaper against Gate than usual: you would sell low and buy high (−$237 if the spread goes back to its 7-day average of +1.883%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.080%, so the current rate has only just turned against you. The two prices were read 84 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	Gate FIL_USDT	0.9903	0.0100	pay 0.0100% / 8h	2h 41m	$8.4M	$16.7M	50x
Short	Injective FIL/USDC PERP	0.9855	0.0033	get 0.0004% / 1h	41m 48s	$2K	$240K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.485%Rate

Funding earned: −$14
Price spread: −0.485% → +1.883%: −$236.75
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$265.77
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	1.51 bp	17.5 bp −$18	28.2 bp −$282	54.7 bp −$5,469	85.0 bp −$42.5K
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.

FIL on 29 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 FIL_USDC-PERPETUAL	−0.0859%	1h	0.9907	+0.040%	$170K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0240%	1h	0.9958	+0.555%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9905	+0.019%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9915	+0.122%	$58K	$1K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0016%	8h	0.9900	−0.030%	$17.9M	$107.2M	50x	as long as short
Injective FIL/USDC PERPshort	+0.0033%	1h	0.9855	−0.485%	$2K	$240K	12x
KuCoin FILUSDTM	+0.0036%	8h	0.9900	−0.030%	$7.2M	$7.9M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9900	−0.026%	$147K	$378K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9902	−0.007%	$8.3M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9904	+0.015%	$505K	$613K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9898	−0.049%	$56.2M	$185.9M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9898	−0.050%	$15.7M	$20.5M	25x	as long as short
Gate FIL_USDTlong	+0.0100%	8h	0.9903	long leg	$8.4M	$16.7M	50x
MEXC FIL_USDC	+0.0100%	8h	0.9900	−0.030%	$233K	$103K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9898	−0.050%	$11.1M	$20.0M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9900	−0.030%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9913	+0.099%	$448K	$265K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9937	+0.348%	$45K	$297K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9911	+0.081%	$294K	$1.1M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	+0.172%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9911	+0.080%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9890	−0.131%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9903	0.000%	$481	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9900	−0.030%	$615K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9890	−0.131%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9899	−0.044%	$696K	$1.4M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9913	+0.101%	$2.7M	$703K	75x	as long as short
Kraken Futures PF_FILUSD	+0.0251%	1h	0.9908	+0.055%	$1.4M	$2.2M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0593% / S −0.0270%	1h	0.9904	+0.008%	$264K	—	100x	as long as short