Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h −0.048%

Price spread now: Binance against Injective−0.081%67s7-day average −2.103% · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 3 days (all we have)+1.740%+$174 · spread now −0.081%, 7d avg −2.103%

Together, before fees+1.675%+$167 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Binance is 2.022% dearer against Injective than usual: you sell high and buy low: +$202 more if the spread goes back to its 7-day average of −2.103%. Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective FIL/USDC PERP	0.9855	−0.0245	get 0.0031% / 1h	8m 06s	$2K	$240K	12x
Short	Binance FILUSDT	0.9847	0.0039	get 0.0039% / 8h	8m 06s	$57.1M	$179.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.081%Rate

Funding earned: $59.59
Price spread: −0.081% → −2.103%: $202.17
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $251.74
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 5 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 5 min ago	0.51 bp	8.8 bp −$9	17.6 bp −$176	51.9 bp −$5,194	doesn't fit

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	−0.0764%	1h	0.9856	+0.010%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0395%	1h	0.9852	−0.028%	$1.3M	$2.4M	50x	as long as short
Coinbase International FIL-PERP-INTX	−0.0352%	1h	0.9853	−0.020%	$317K	$1.9M	50x	as long as short
Injective FIL/USDC PERPlong	−0.0245%	1h	0.9855	long leg	$2K	$240K	12x
KuCoin FILUSDTM	−0.0036%	8h	0.9851	−0.041%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0008%	8h	0.9846	−0.091%	$18.0M	$98.8M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9854	−0.007%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9854	−0.015%	$57K	$2K	10x	as long as short
Binance FILUSDTshort	+0.0039%	8h	0.9847	−0.081%	$57.1M	$179.5M	75x
Bitget FILUSDT	+0.0039%	8h	0.9849	−0.061%	$10.8M	$21.6M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended FIL-USD	+0.0040%	1h	0.9846	−0.091%	$689K	$2.3M	10x	as long as short
Bybit FILUSDT	+0.0046%	8h	0.9849	−0.061%	$15.4M	$18.4M	25x	as long as short
BingX FIL-USDT	+0.0047%	8h	0.9846	−0.091%	—	$11.9M	—	as long as short
MEXC FIL_USDC	+0.0049%	8h	0.9844	−0.112%	$247K	$106K	50x	as long as short
Gate FIL_USDT	+0.0071%	8h	0.9848	−0.071%	$8.1M	$16.5M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9843	−0.119%	$158K	$348K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9850	−0.051%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9849	−0.058%	$493K	$546K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9835	−0.202%	$439K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9847	−0.084%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9833	−0.223%	$293K	$805K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9850	−0.051%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9859	+0.037%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9850	−0.051%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9848	−0.071%	$487	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9855	0.000%	$626K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9850	−0.051%	$1.1M	$2.4M	50x	as long as short
BloFin FIL-USDT	+0.0157%	8h	0.9846	−0.091%	$2.7M	$568K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0570% / S −0.0666%	1h	0.9854	−0.009%	$196K	—	100x	as long as short