Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.042%

Price spread now: Injective against Bybit−0.028%98s7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.028% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000TURBOUSDT	0.001069	0.0100	pay 0.0050% / 4h	3h 55m	$391K	$791K	25x
Short	Injective TURBO/USDC PERP	0.001069	0.0033	get 0.0004% / 1h	55m 43s	$83	$4	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now −0.028%Rate

Funding earned: −$14
Price spread: −0.028% → 0.000%: −$2.81
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$27.83
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 35 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 Bybit live order book, 35 min ago	7.93 bp	34.2 bp −$34	880.8 bp −$8,808	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	−0.0830%	1h	0.001070	+0.097%	$71K	$31K	20x	as long as short
Injective TURBO/USDC PERPshort	+0.0033%	1h	0.001069	−0.028%	$83	$4	5.5x
Hyperliquid TURBO	+0.0100%	1h	0.001071	+0.159%	$315K	$170K	3x	as long as short
Aster TURBOUSDT	+0.0100%	4h	0.001070	+0.070%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001069	−0.065%	$2.9M	$6.7M	50x	as long as short
Bybit 1000TURBOUSDTlong	+0.0100%	4h	0.001069	long leg	$391K	$791K	25x
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001069	−0.028%	$903K	$2.3M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001070	+0.056%	$387K	$350K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001069	−0.056%	$5.5M	$613K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001070	+0.103%	$1.8M	$965K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TURBOUSDT	+0.0100%	4h	0.001069	−0.028%	$1.0M	$610K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001069	0.000%	—	$9.4M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001068	−0.077%	$1K	$200K	5x	as long as short
BloFin TURBO-USDT	+0.0112%	4h	0.001072	+0.290%	$156K	$494K	75x	as long as short