Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0257%/8h= +28.1% APRpaid last 24h +0.969%

Price spread now: Bitget against Injective0.000%7-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 Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IO/USDC PERP	0.1503	−0.0157	get 0.0020% / 1h	41m 08s	$2K	$101	5.5x
Short	Bitget IOUSDT	0.1503	0.0100	get 0.0050% / 4h	2h 41m	$1.4M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $53.94
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $41.92
Costs to cover: 0.120%
Break-even: 1.6 days

Slippage unknown: Injective: no order-book sample; Bitget: 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 Bitget live order book, 5 min ago	3.33 bp	30.3 bp −$30	178.5 bp −$1,785	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.

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
Injective IO/USDC PERPlong	−0.0157%	1h	0.1503	long leg	$2K	$101	5.5x
Hyperliquid IO	+0.0100%	1h	0.1504	+0.033%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1506	+0.167%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1504	+0.067%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1502	−0.033%	$1.1M	$863K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1505	+0.166%	$230K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1503	0.000%	$1.1M	$237K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1504	+0.067%	$401K	$654K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1503	0.000%	$1.4M	$1.1M	50x
BingX IO-USDT	+0.0100%	4h	0.1504	+0.067%	—	$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	0.1502	−0.066%	$30K	$5K	—	as long as short
BloFin IO-USDT	+0.0103%	4h	0.1506	+0.200%	$192K	$30K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1504	+0.055%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSD	+0.5463%	1h	0.1505	+0.120%	$39K	$21K	10x	as long as short