Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: Binance against Injective+5.209%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 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 5.209% dearer against Injective than usual: you sell high and buy low: +$521 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LAYER/USDC PERP	0.07274	0.0033	pay 0.0004% / 1h	57m 02s	—	$18K	5.5x
Short	Binance LAYERUSDT	0.07653	0.0100	get 0.0050% / 4h	57m 02s	$2.1M	$2.6M	50x

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 +5.209%Rate

Funding earned: $14
Price spread: +5.209% → 0.000%: $520.93
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: $524.91
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 8 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, 8 min ago	2.61 bp	33.7 bp −$34	101.4 bp −$1,014	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.

LAYER on 13 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
Kraken Futures PF_LAYERUSD	−0.0511%	1h	0.07649	+5.154%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERPlong	+0.0033%	1h	0.07274	long leg	—	$18K	5.5x
BloFin LAYER-USDT	+0.0094%	4h	0.07654	+5.224%	$116K	$16K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07673	+5.481%	$596K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07642	+5.063%	$9K	$4K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07653	+5.209%	$2.1M	$2.6M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07647	+5.128%	$717K	$736K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07653	+5.210%	$138K	$46K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07650	+5.169%	$339K	$116K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07650	+5.169%	$1.1M	$168K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07660	+5.307%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+5.032%	$16K	$191K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07645	+5.099%	$742	$170K	5x	as long as short