Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Gate against Injective−0.780%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

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

Funding pays, the price is against you. Gate is 0.780% cheaper against Injective than usual: you would sell low and buy high (spread −0.780% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$78 on $10k: about 39 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NIGHT/USDC PERP	0.02435	0.0033	pay 0.0004% / 1h	9m 03s	$1K	$58K	5.5x
Short	Gate NIGHT_USDT	0.02416	0.0100	get 0.0100% / 8h	6h 09m	$222K	$203K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.780%Rate

Funding earned: $14
Price spread: −0.780% → 0.000%: −$78.03
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$79.05
Costs to cover: 0.150%
Break-even: 46.5 days

Slippage unknown: Injective: no order-book sample; Gate: live order book, 52 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 Gate live order book, 52 min ago	4.14 bp	165.8 bp −$166	doesn't fit	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.

NIGHT 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
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.464%	$1K	—	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.1292%	1h	0.02425	−0.405%	$63K	$60K	25x	as long as short
Injective NIGHT/USDC PERPlong	+0.0033%	1h	0.02435	long leg	$1K	$58K	5.5x
Aster NIGHTUSDT	+0.0100%	4h	0.02416	−0.775%	$27K	$34K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02413	−0.898%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02416	−0.780%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02415	−0.817%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDTshort	+0.0100%	8h	0.02416	−0.780%	$222K	$203K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02416	−0.765%	$1.4M	$5.3M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02415	−0.821%	$646K	$404K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02414	−0.862%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0120%	4h	0.02413	−0.903%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02413	−0.903%	$848K	$461K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0454%	1h	0.02416	−0.789%	$99	$99	10x	as long as short