Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.006%

Price spread now: Injective against OKX+3.060%7-day average — · you sell dearer than you buy

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

Long on OKX 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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 3.060% dearer against OKX than usual: you sell high and buy low: +$306 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01173	−0.0041	get 0.0021% / 4h	1h 52m	$1.3M	$2.1M	20x
Short	Injective W/USDC PERP	0.01209	0.0033	get 0.0004% / 1h	52m 43s	$1K	$1K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +3.060%Rate

Funding earned: $15.62
Price spread: +3.060% → 0.000%: $306.03
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $311.62
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	2.13 bp	28.2 bp −$28	doesn't fit	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.

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	−0.0601%	1h	0.01174	+0.051%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAPlong	−0.0041%	4h	0.01173	long leg	$1.3M	$2.1M	20x
Injective W/USDC PERPshort	+0.0033%	1h	0.01209	+3.060%	$1K	$1K	12x
Hyperliquid W	+0.0100%	1h	0.01175	+0.162%	$2.0M	$443K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01174	+0.061%	$3.0M	$7.1M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01172	−0.119%	$4.1M	$2.0M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01170	−0.264%	$444K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01174	+0.060%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01173	−0.009%	$416K	$218K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01175	+0.162%	$1.3M	$582K	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	0.01173	0.000%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01172	−0.102%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01176	+0.216%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01174	+0.077%	$59K	$276K	5x	as long as short
Backpack W_USDC_PERP	+0.0195%	1h	0.01175	+0.136%	$44K	$47K	15x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01178	+0.384%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0398%	1h	0.01176	+0.241%	$146K	$185K	20x	as long as short