Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.083%

Price spread now: Injective against OKX−9.812%68s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 9.812% cheaper against OKX than usual: you would sell low and buy high (−$981 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	OKX H-USDT-SWAP	0.06930	0.0100	pay 0.0050% / 4h	1h 22m	$1.7M	$5.8M	10x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	22m 11s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −9.812%Rate

Funding earned: −$14
Price spread: −9.812% → 0.000%: −$981.24
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,005.26
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 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 OKX live order book, 6 min ago	1.44 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
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.

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 PERPshort	+0.0033%	1h	0.06250	−9.812%	$1K	$1	5.5x
BloFin H-USDT	+0.0089%	4h	0.06923	−0.101%	$586K	$115K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06922	−0.121%	$114K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06929	−0.020%	$14.9M	$10.6M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06917	−0.188%	$7.6M	$4.6M	13x	as long as short
OKX H-USDT-SWAPlong	+0.0100%	4h	0.06930	long leg	$1.7M	$5.8M	10x
Gate H_USDT	+0.0100%	4h	0.06919	−0.159%	$2.8M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06927	−0.043%	$6.2M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06918	−0.173%	$1.6M	$10.1M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06918	−0.173%	$1.7M	$455K	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	0.06926	−0.058%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06904	−0.380%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06915	−0.216%	$1.1M	$437K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06926	−0.063%	$11K	$107K	5x	as long as short