Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.042%

Price spread now: Bybit against Injective−2.077%7-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 Bybit

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. Bybit is 2.077% cheaper against Injective than usual: you would sell low and buy high (spread −2.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$208 on $10k: about 3 months of funding at the current rate (+$2 a day).

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	20m 46s	$83	$4	5.5x
Short	Bybit 1000TURBOUSDT	0.001047	0.0100	get 0.0050% / 4h	2h 20m	$374K	$759K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −2.077%Rate

Funding earned: $14
Price spread: −2.077% → 0.000%: −$207.67
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$204.69
Costs to cover: 0.110%
Break-even: 109.3 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 20 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 Bybit live order book, 20 min ago	9.59 bp	39.2 bp −$39	364.2 bp −$3,642	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.

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	−0.0116%	1h	0.001046	−2.144%	$68K	$30K	20x	as long as short
Injective TURBO/USDC PERPlong	+0.0033%	1h	0.001069	long leg	$83	$4	5.5x
Hyperliquid TURBO	+0.0100%	1h	0.001049	−1.871%	$311K	$167K	3x	as long as short
Aster TURBOUSDT	+0.0100%	4h	0.001047	−2.085%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001049	−1.908%	$2.9M	$6.3M	50x	as long as short
Bybit 1000TURBOUSDTshort	+0.0100%	4h	0.001047	−2.077%	$374K	$759K	25x
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001050	−1.805%	$877K	$2.2M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001045	−2.245%	$382K	$324K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001046	−2.161%	$5.4M	$611K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001045	−2.208%	$1.8M	$859K	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	0.001047	−2.058%	$990K	$578K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001048	−2.002%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001046	−2.168%	$1K	$232K	5x	as long as short
BloFin TURBO-USDT	+0.0125%	4h	0.001046	−2.189%	$151K	$463K	75x	as long as short