Funding arb · Price arb /

H

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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 +0.083%

Price spread now: Binance against Injective+8.996%107s7-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 Binance

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 Binance is 8.996% dearer against Injective than usual: you sell high and buy low: +$900 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 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 H/USDC PERP	0.06250	0.0033	pay 0.0004% / 1h	41m 31s	$1K	$1	5.5x
Short	Binance HUSDT	0.06812	0.0100	get 0.0050% / 4h	2h 41m	$14.6M	$11.0M	10x

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 +8.996%Rate

Funding earned: $14
Price spread: +8.996% → 0.000%: $899.64
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: $903.62
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 14 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, 14 min ago	0.73 bp	32.8 bp −$33	203.9 bp −$2,039	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.

H on 14 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 H/USDC PERPlong	+0.0033%	1h	0.06250	long leg	$1K	$1	5.5x
BloFin H-USDT	+0.0064%	4h	0.06807	+8.912%	$590K	$111K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06810	+8.967%	$111K	$55K	5x	as long as short
Binance HUSDTshort	+0.0100%	4h	0.06812	+8.996%	$14.6M	$11.0M	10x
Bybit HUSDT	+0.0100%	4h	0.06799	+8.786%	$7.5M	$4.9M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06819	+9.104%	$1.8M	$6.3M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06799	+8.784%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06811	+8.976%	$6.0M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06806	+8.896%	$1.6M	$10.1M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06806	+8.896%	$1.7M	$445K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06810	+8.960%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06785	+8.565%	$8K	$5K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06813	+9.013%	$1.1M	$441K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06810	+8.964%	$9K	$97K	5x	as long as short