Funding arb · Price arb /

RUNE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h —

Price spread now: Deribit against Injective+2.713%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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 pays, funding is against you. Deribit is 2.713% dearer against Injective than usual: you sell high and buy low (spread +2.713% now, against zero (this spread has no 7-day history yet)): +$271 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective RUNE/USDC PERP	0.6155	0.0033	pay 0.0004% / 1h	10m 32s	$7	$14	12x
Short	Deribit RUNE_USDC-PERPETUAL	0.6322	0	get 0.0000% / 1h	10m 32s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.713%Rate

Funding earned: −$7
Price spread: +2.713% → 0.000%: $271.32
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $257.3
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Deribit: 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 Injective no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Injective and Deribit: 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.

RUNE 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
Deribit RUNE_USDC-PERPETUALshort	0.0000%	1h	0.6322	+2.713%	—	—	10x
Injective RUNE/USDC PERPlong	+0.0033%	1h	0.6155	long leg	$7	$14	12x
BloFin RUNE-USDT	+0.0072%	8h	0.6325	+2.762%	$437K	$197K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6317	+2.639%	$4.8M	$15.9M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6317	+2.632%	$2.8M	$2.8M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6328	+2.811%	$627K	$370K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6318	+2.648%	$3.4M	$3.5M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6324	+2.746%	$975K	$361K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6328	+2.811%	$1.5M	$775K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6322	+2.713%	—	$58.9M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6319	+2.662%	$186K	$67K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6315	+2.591%	$4K	$169K	10x	as long as short
dYdX RUNE-USD	+0.0348%	1h	0.6326	+2.785%	$27K	$32K	5x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0680%	1h	0.6395	+3.899%	$38K	$30K	25x	as long as short
Kraken Futures PF_RUNEUSD	+0.0955%	1h	0.6327	+2.798%	$165K	$310K	20x	as long as short
Hyperliquid RUNE	+0.1606%	1h	0.6328	+2.804%	$1.8M	$1.1M	5x	as long as short