Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.042%

Price spread now: Injective against Binance−0.317%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.317% cheaper against Binance than usual: you would sell low and buy high (−$32 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TURBOUSDT	0.001072	0.0100	pay 0.0050% / 4h	3h 57m	$2.9M	$5.9M	50x
Short	Injective TURBO/USDC PERP	0.001069	0.0033	get 0.0004% / 1h	57m 12s	$83	$4	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee InjectivebpOrdersPrice spread, now −0.317%Rate

Funding earned: −$14
Price spread: −0.317% → 0.000%: −$31.7
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$55.72
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 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 Binance live order book, 11 min ago	2.84 bp	20.7 bp −$21	88.8 bp −$888	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.

TURBO 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
Kraken Futures PF_TURBOUSD	−0.0193%	1h	0.001069	−0.281%	$68K	$28K	20x	as long as short
Injective TURBO/USDC PERPshort	+0.0033%	1h	0.001069	−0.317%	$83	$4	5.5x
BloFin TURBO-USDT	+0.0073%	4h	0.001071	−0.103%	$155K	$445K	75x	as long as short
Hyperliquid TURBO	+0.0100%	1h	0.001073	+0.056%	$312K	$150K	3x	as long as short
Aster TURBOUSDT	+0.0100%	4h	0.001074	+0.143%	$10K	$20K	10x	as long as short
Binance TURBOUSDTlong	+0.0100%	4h	0.001072	long leg	$2.9M	$5.9M	50x
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001073	+0.065%	$397K	$738K	25x	as long as short
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001071	−0.121%	$915K	$2.0M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001073	+0.037%	$392K	$275K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001072	−0.028%	$5.4M	$572K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TURBOUSDTM	+0.0100%	4h	0.001073	+0.009%	$1.9M	$809K	20x	as long as short
Bitget TURBOUSDT	+0.0100%	4h	0.001073	+0.056%	$1.1M	$512K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001072	−0.037%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001072	−0.008%	$3K	$167K	5x	as long as short