Funding arb · Price arb /

GRASS

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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 −0.047%

Price spread now: Bybit against Injective+4.312%98s7-day average — · you sell dearer than you buy

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 4.312% dearer against Injective than usual: you sell high and buy low: +$431 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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	Injective GRASS/USDC PERP	0.4267	0.0033	pay 0.0004% / 1h	43m 40s	$7	$23K	5.5x
Short	Bybit GRASSUSDT	0.4451	0.0100	get 0.0050% / 4h	2h 43m	$25.3M	$18.6M	25x

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

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 BybitbpOrdersPrice spread, now +4.312%Rate

Funding earned: $14
Price spread: +4.312% → 0.000%: $431.22
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: $434.2
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bybit: 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 Bybit live order book, 5 min ago	2.25 bp	19.2 bp −$19	44.9 bp −$449	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.

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0109%	1h	0.4466	+4.671%	$671	—	15x	as long as short
Injective GRASS/USDC PERPlong	+0.0033%	1h	0.4267	long leg	$7	$23K	5.5x
BloFin GRASS-USDT	+0.0095%	4h	0.4441	+4.078%	$570K	$354K	20x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4459	+4.500%	$10.6M	$33.2M	75x	as long as short
Bybit GRASSUSDTshort	+0.0100%	4h	0.4451	+4.312%	$25.3M	$18.6M	25x
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4446	+4.195%	$3.5M	$19.3M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4452	+4.336%	$1.3M	$1.7M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4457	+4.453%	$1.6M	$2.7M	100x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4462	+4.570%	$1.3M	$1.9M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4456	+4.422%	$5.3M	$3.5M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GRASS-USDT	+0.0100%	4h	0.4455	+4.406%	—	$7.3M	—	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4411	+3.368%	$2.2M	$1.3M	—	as long as short
Extended GRASS-USD	+0.0104%	1h	0.4454	+4.385%	$221K	$770K	10x	as long as short
Hyperliquid GRASS	+0.0383%	1h	0.4478	+4.936%	$17.0M	$4.3M	3x	as long as short
Aster GRASSUSDT	+0.0489%	4h	0.4470	+4.747%	$63K	$282K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.1435%	1h	0.4469	+4.724%	$162K	$147K	20x	as long as short
Lighter GRASS	+0.1760%	1h	0.4487	+5.156%	$872K	$966K	5x	as long as short