Funding arb · Price arb /

IO

all IO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0314%/8h= +34.4% APRpaid last 24h −0.833%

Price spread now: Injective against Bitget+0.066%71s7-day average — · you sell dearer than you buy

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

Long on Bitget 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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Injective is 0.066% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 71 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	Bitget IOUSDT	0.1516	0.0100	pay 0.0050% / 4h	3h 44m	$1.3M	$1.2M	50x
Short	Injective IO/USDC PERP	0.1517	0.0414	get 0.0052% / 1h	44m 11s	$2K	$202	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +0.066%Rate

Funding earned: $65.93
Price spread: +0.066% → 0.000%: $6.6
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $60.51
Costs to cover: 0.120%
Break-even: 0.6 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	3.30 bp	24.3 bp −$24	161.5 bp −$1,615	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.

IO 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
BloFin IO-USDT	+0.0096%	4h	0.1518	+0.132%	$193K	$31K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1516	+0.026%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1517	+0.066%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1517	+0.066%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1515	−0.066%	$1.1M	$894K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1517	+0.053%	$242K	$545K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1515	−0.066%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1516	0.000%	$374K	$672K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1516	long leg	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1516	0.000%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1516	−0.015%	$33K	$8K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1517	+0.042%	$906	$173K	5x	as long as short
Injective IO/USDC PERPshort	+0.0414%	1h	0.1517	+0.066%	$2K	$202	5.5x
Kraken Futures PF_IOUSD	+0.0621%	1h	0.1519	+0.170%	$39K	$18K	10x	as long as short