Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h −0.026%

Price spread now: Injective against BingX0.000%7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NIGHT-USDT	0.02435	0.0120	pay 0.0060% / 4h	3h 42m	—	$6.6M	—
Short	Injective NIGHT/USDC PERP	0.02435	0.0033	get 0.0004% / 1h	42m 31s	$1K	$58K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$18.2
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$28.22
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 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 BingX live order book, 4 min ago	6.16 bp	23.6 bp −$24	85.2 bp −$852	700.3 bp −$70.0K	1023.9 bp −$511.9K
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	−10.464%	$1K	—	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.5815%	1h	0.02421	−0.571%	$63K	$62K	25x	as long as short
Injective NIGHT/USDC PERPshort	+0.0033%	1h	0.02435	0.000%	$1K	$58K	5.5x
Aster NIGHTUSDT	+0.0100%	4h	0.02436	+0.050%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02436	+0.041%	$5.4M	$6.6M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02436	+0.041%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02434	−0.029%	$1.6M	$1.8M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02435	0.000%	$225K	$205K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02435	−0.003%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02436	+0.041%	$651K	$394K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02433	−0.082%	$1K	$2.0M	20x	as long as short
BingX NIGHT-USDTlong	+0.0120%	4h	0.02435	long leg	—	$6.6M	—
BloFin NIGHT-USDT	+0.0146%	4h	0.02432	−0.123%	$287K	$46K	50x	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02435	0.000%	$884K	$457K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.2213%	1h	0.02442	+0.279%	$100	$99	10x	as long as short