Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.030%

Price spread now: Bybit against Injective−2.417%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bybit

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

Funding pays, the price is against you. Bybit is 2.417% cheaper against Injective than usual: you would sell low and buy high (spread −2.417% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$242 on $10k: about 4 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective GALA/USDC PERP	0.002110	0.0033	pay 0.0004% / 1h	58m 44s	$2K	$7K	5.5x
Short	Bybit GALAUSDT	0.002059	0.0100	get 0.0100% / 8h	58m 44s	$6.0M	$6.0M	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

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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 −2.417%Rate

Funding earned: $14
Price spread: −2.417% → 0.000%: −$241.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$238.73
Costs to cover: 0.110%
Break-even: 126.4 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	2.42 bp	14.2 bp −$14	41.3 bp −$413	doesn't fit	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.

GALA on 15 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 GALA/USDC PERPlong	+0.0033%	1h	0.002110	long leg	$2K	$7K	5.5x
Kraken Futures PF_GALAUSD	+0.0092%	1h	0.002065	−2.139%	$663K	$235K	25x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002060	−2.370%	$301K	$145K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002059	−2.421%	$16K	$8K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002060	−2.382%	$5.4M	$17.2M	75x	as long as short
Bybit GALAUSDTshort	+0.0100%	8h	0.002059	−2.417%	$6.0M	$6.0M	75x
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002059	−2.417%	$2.1M	$4.1M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002061	−2.322%	$1.8M	$1.5M	75x	as long as short
MEXC GALA_USDT	+0.0100%	8h	0.002058	−2.464%	$5.5M	$3.2M	125x	as long as short
KuCoin GALAUSDTM	+0.0100%	8h	0.002058	−2.464%	$1.7M	$4.7M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GALAUSDT	+0.0100%	8h	0.002060	−2.370%	$2.1M	$1.3M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002060	−2.370%	—	$13.7M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002061	−2.339%	$25K	$14K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002059	−2.411%	$4K	$86K	5x	as long as short
BloFin GALA-USDT	+0.0105%	8h	0.002061	−2.322%	$300K	$65K	20x	as long as short