Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.5100%/8h= +558.5% APRpaid last 24h +0.478%

Price spread now: Gate against Injective+6.443%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.619%+$62 on $10k

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 +$153 a day on $10k at the current rate, and Gate is 6.443% dearer against Injective than usual: you sell high and buy low: +$644 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.619% in total (about 32.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SNX/USDC PERP	0.2235	−0.5000	get 0.0625% / 1h	32m 57s	$23K	$29K	12x
Short	Gate SNX_USDT	0.2379	0.0100	get 0.0100% / 8h	3h 32m	$240K	$95K	25x

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 +6.443%Rate

Funding earned: $1,071
Price spread: +6.443% → 0.000%: $644.3
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: $1,700.28
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 14 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, 14 min ago	4.20 bp	74.9 bp −$75	291.8 bp −$2,918	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.

SNX 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
Injective SNX/USDC PERPlong	−0.5000%	1h	0.2235	long leg	$23K	$29K	12x
BloFin SNX-USDT	+0.0077%	8h	0.2377	+6.353%	$153K	$69K	75x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2381	+6.523%	$434K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2378	+6.379%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2378	+6.397%	$2.9M	$4.1M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2377	+6.353%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2377	+6.353%	$849K	$1.2M	20x	as long as short
Gate SNX_USDTshort	+0.0100%	8h	0.2379	+6.443%	$240K	$95K	25x
MEXC SNX_USDT	+0.0100%	8h	0.2377	+6.353%	$1.7M	$716K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2377	+6.353%	$672K	$2.0M	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2378	+6.398%	$1.1M	$358K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2378	+6.398%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2377	+6.335%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2367	+5.906%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSD	+0.0442%	1h	0.2376	+6.329%	$142K	$61K	25x	as long as short