Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.025%

Price spread now: BloFin against Injective+4.534%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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 4.534% dearer against Injective than usual: you sell high and buy low: +$453 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 NOT/USDC PERP	0.0004874	0.0033	pay 0.0004% / 1h	56m 28s	$1K	$13K	5.5x
Short	BloFin NOT-USDT	0.0005095	0.0084	get 0.0042% / 4h	56m 28s	$111K	$17K	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 +4.534%Rate

Funding earned: $10.54
Price spread: +4.534% → 0.000%: $453.43
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: $451.95
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 4 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, 4 min ago	3.94 bp	21.0 bp −$21	58.5 bp −$585	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.

NOT on 16 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
Variational Omni NOT	−0.0070%	4h	0.0005057	+3.761%	$71K	$39K	—	as long as short
Injective NOT/USDC PERPlong	+0.0033%	1h	0.0004874	long leg	$1K	$13K	5.5x
BloFin NOT-USDTshort	+0.0084%	4h	0.0005095	+4.534%	$111K	$17K	50x
Lighter 1000NOT	+0.0096%	1h	0.0005097	+4.579%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005090	+4.432%	$373K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005096	+4.561%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005093	+4.493%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005088	+4.391%	$2.2M	$823K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005097	+4.575%	$622K	$600K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005083	+4.288%	$141K	$78K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005092	+4.473%	$1.4M	$458K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005087	+4.370%	$464K	$138K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005096	+4.555%	$669K	$385K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005093	+4.493%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005088	+4.390%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.4173%	1h	0.0005111	+4.870%	$50K	$10K	10x	as long as short