Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0511%/8h= −56.0% APRpaid last 24h +0.543%

Price spread now: BloFin against Injective+0.469%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 BloFin

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 pays, funding is against you. BloFin is 0.469% dearer against Injective than usual: you sell high and buy low (spread +0.469% now, against zero (this spread has no 7-day history yet)): +$47 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IO/USDC PERP	0.1491	0.0619	pay 0.0077% / 1h	59m 35s	$2K	$201	5.5x
Short	BloFin IO-USDT	0.1498	0.0108	get 0.0054% / 4h	1h 59m	$192K	$38K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.469%Rate

Funding earned: −$107.31
Price spread: +0.469% → 0.000%: $46.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$72.38
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 16 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 BloFin live order book, 16 min ago	6.71 bp	18.5 bp −$19	69.8 bp −$698	492.3 bp −$49.2K	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
Hyperliquid IO	+0.0100%	1h	0.1498	+0.469%	$995K	$279K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1497	+0.412%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1498	+0.502%	$3.0M	$5.2M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1496	+0.315%	$1.1M	$706K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1498	+0.449%	$228K	$463K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1496	+0.335%	$1.2M	$224K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1497	+0.402%	$355K	$194K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1500	+0.604%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1497	+0.402%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1497	+0.417%	$30K	$20K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1498	+0.474%	$4K	$220K	5x	as long as short
BloFin IO-USDTshort	+0.0108%	4h	0.1498	+0.469%	$192K	$38K	50x
Injective IO/USDC PERPlong	+0.0619%	1h	0.1491	long leg	$2K	$201	5.5x
Kraken Futures PF_IOUSD	+2.7328%	1h	0.1497	+0.421%	$39K	$7K	10x	as long as short