Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0307%/8h= −33.6% APRpaid last 24h −0.081%

Price spread now: Injective against BloFin+1.485%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 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 1.485% dearer against BloFin than usual: you sell high and buy low (spread +1.485% now, against zero (this spread has no 7-day history yet)): +$149 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 7 days (−0.288% in total) that is about 36 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.04040	0.0340	pay 0.0170% / 4h	28m 19s	$279K	$98K	75x
Short	Injective S/USDC PERP	0.04100	0.0033	get 0.0004% / 1h	28m 19s	$2K	$37K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +1.485%Rate

Funding earned: −$64.4
Price spread: +1.485% → 0.000%: $148.51
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $72.09
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 6 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 BloFin live order book, 6 min ago	6.21 bp	19.1 bp −$19	51.1 bp −$511	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.

S on 25 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
01 Exchange SUSD	−0.7648%	1h	0.03910	−3.218%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2535%	1h	0.04027	−0.311%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03986	−1.337%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04018	−0.537%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04017	−0.567%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04019	−0.531%	$3K	—	150x	as long as short
Variational Omni S	+0.0020%	4h	0.04025	−0.364%	$624K	$30K	—	as long as short
Injective S/USDC PERPshort	+0.0033%	1h	0.04100	+1.485%	$2K	$37K	12x
Orderly PERP_S_USDC	+0.0064%	4h	0.04016	−0.594%	$99K	$296K	10x	as long as short
Lighter S	+0.0096%	1h	0.04026	−0.347%	$169K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04022	−0.450%	$1.0M	$555K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04025	−0.377%	$44K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04016	−0.594%	$5.5M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04012	−0.693%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04014	−0.644%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04020	−0.495%	$329K	$188K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04018	−0.545%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04022	−0.446%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04019	−0.520%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04018	−0.545%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04030	−0.248%	$24K	$459K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04020	−0.502%	$230K	$1.1M	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04040	long leg	$279K	$98K	75x
Deribit S_USDC-PERPETUAL	+0.0497%	1h	0.04020	−0.495%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0997%	1h	0.04040	0.000%	$117K	$404K	5x	as long as short