Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Binance+0.870%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

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. Injective is 0.870% dearer against Binance than usual: you sell high and buy low (spread +0.870% now, against zero (this spread has no 7-day history yet)): +$87 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 43 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NIGHTUSDT	0.02414	0.0100	pay 0.0050% / 4h	28m 40s	$5.3M	$6.5M	50x
Short	Injective NIGHT/USDC PERP	0.02435	0.0033	get 0.0004% / 1h	28m 40s	$1K	$58K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee InjectivebpOrdersPrice spread, now +0.870%Rate

Funding earned: −$14
Price spread: +0.870% → 0.000%: $86.99
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $62.97
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 10 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 Binance live order book, 10 min ago	2.08 bp	18.1 bp −$18	228.1 bp −$2,281	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.

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−9.685%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERPshort	+0.0033%	1h	0.02435	+0.870%	$1K	$58K	5.5x
BloFin NIGHT-USDT	+0.0052%	4h	0.02419	+0.207%	$284K	$42K	50x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0081%	1h	0.02420	+0.228%	$99	$99	10x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02415	+0.043%	$27K	$35K	10x	as long as short
Binance NIGHTUSDTlong	+0.0100%	4h	0.02414	long leg	$5.3M	$6.5M	50x
Bybit NIGHTUSDT	+0.0100%	4h	0.02414	0.000%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02413	−0.033%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02415	+0.041%	$222K	$199K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02416	+0.073%	$1.4M	$5.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NIGHTUSDT	+0.0100%	4h	0.02415	+0.041%	$646K	$393K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02417	+0.124%	$1K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02412	−0.083%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02412	−0.083%	$780K	$460K	100x	as long as short
Kraken Futures PF_NIGHTUSD	+1.8814%	1h	0.02442	+1.167%	$65K	$61K	25x	as long as short