Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.036%

Price spread now: Gate against Injective−1.894%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 Gate

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. Gate is 1.894% cheaper against Injective than usual: you would sell low and buy high (spread −1.894% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$189 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 W/USDC PERP	0.01209	0.0033	pay 0.0004% / 1h	47m 00s	$1K	$1K	12x
Short	Gate W_USDT	0.01186	0.0100	get 0.0050% / 4h	3h 47m	$448K	$284K	75x

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 −1.894%Rate

Funding earned: $14
Price spread: −1.894% → 0.000%: −$189.41
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: −$190.43
Costs to cover: 0.150%
Break-even: 102.2 days

Slippage unknown: Injective: no order-book sample; Gate: live order book, 24 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, 24 min ago	8.48 bp	400.3 bp −$400	doesn't fit	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.

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0003%	1h	0.01187	−1.787%	$16K	$2K	10x	as long as short
Injective W/USDC PERPlong	+0.0033%	1h	0.01209	long leg	$1K	$1K	12x
OKX W-USDT-SWAP	+0.0072%	4h	0.01187	−1.853%	$1.3M	$2.0M	20x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	−1.820%	$2.0M	$417K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	−1.787%	$3.0M	$6.8M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01186	−1.878%	$4.1M	$1.9M	50x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01186	−1.894%	$448K	$284K	75x
MEXC W_USDT	+0.0100%	4h	0.01187	−1.811%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01189	−1.654%	$461K	$218K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01187	−1.820%	$1.3M	$577K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01186	−1.869%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01184	−2.033%	$72K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	−1.828%	$127K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	−1.808%	$60K	$274K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0280%	1h	0.01188	−1.770%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.1255%	1h	0.01189	−1.663%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1321%	1h	0.01190	−1.569%	$147K	$181K	20x	as long as short