Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.042%

Price spread now: BingX against Injective−0.365%102s7-day average — · you buy dearer than you sell

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

Long on Injective Short on BingX

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

Funding pays, the price is against you. BingX is 0.365% cheaper against Injective than usual: you would sell low and buy high (spread −0.365% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$36 on $10k: about 18 days of funding at the current rate (+$2 a day). The two prices were read 102 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	Injective TURBO/USDC PERP	0.001069	0.0033	pay 0.0004% / 1h	35m 25s	$83	$4	5.5x
Short	BingX TURBO-USDT	0.001065	0.0100	get 0.0050% / 4h	1h 35m	—	$9.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.365%Rate

Funding earned: $14
Price spread: −0.365% → 0.000%: −$36.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.5
Costs to cover: 0.100%
Break-even: 23.3 days

Slippage unknown: Injective: no order-book sample; BingX: live order book, 8 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 BingX live order book, 8 min ago	8.87 bp	31.8 bp −$32	87.1 bp −$871	404.6 bp −$40.5K	570.8 bp −$285.4K

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	−0.0345%	1h	0.001064	−0.449%	$70K	$31K	20x	as long as short
Injective TURBO/USDC PERPlong	+0.0033%	1h	0.001069	long leg	$83	$4	5.5x
BloFin TURBO-USDT	+0.0077%	4h	0.001066	−0.243%	$155K	$478K	75x	as long as short
Hyperliquid TURBO	+0.0100%	1h	0.001065	−0.374%	$317K	$167K	3x	as long as short
Aster TURBOUSDT	+0.0100%	4h	0.001065	−0.360%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001065	−0.360%	$2.9M	$6.5M	50x	as long as short
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001065	−0.337%	$389K	$781K	25x	as long as short
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001065	−0.337%	$891K	$2.3M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001065	−0.337%	$385K	$342K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001065	−0.393%	$5.5M	$612K	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	0.001064	−0.440%	$1.8M	$885K	20x	as long as short
Bitget TURBOUSDT	+0.0100%	4h	0.001065	−0.374%	$1.0M	$590K	25x	as long as short
BingX TURBO-USDTshort	+0.0100%	4h	0.001065	−0.365%	—	$9.4M	—
Extended TURBO-USD	+0.0104%	1h	0.001065	−0.383%	$2K	$176K	5x	as long as short