Funding arb · Price arb /

YFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against BingX−5.296%117s7-day average — · you buy dearer than you sell

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

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 5.296% cheaper against BingX than usual: you would sell low and buy high (−$530 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 117 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	BingX YFI-USDT	2,313	0.0100	pay 0.0100% / 8h	4h 03m	—	$11.8M	—
Short	Injective YFI/USDC PERP	2,190.5	0.0033	get 0.0004% / 1h	3m 27s	$2K	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now −5.296%Rate

Funding earned: −$14
Price spread: −5.296% → 0.000%: −$529.62
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$553.64
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 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 BingX live order book, 10 min ago	6.47 bp	14.4 bp −$14	23.6 bp −$236	526.3 bp −$52.6K	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.

YFI on 12 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_YFIUSD	−0.0510%	1h	2,317.6	+0.201%	$47K	$6K	10x	as long as short
Injective YFI/USDC PERPshort	+0.0033%	1h	2,190.5	−5.296%	$2K	$28K	5.5x
Aster YFIUSDT	+0.0100%	8h	2,312.2	−0.036%	$3K	$2K	5x	as long as short
Binance YFIUSDT	+0.0100%	8h	2,314.2	+0.053%	$2.2M	$3.2M	75x	as long as short
Bybit YFIUSDT	+0.0100%	8h	2,313	0.000%	$997K	$278K	25x	as long as short
OKX YFI-USDT-SWAP	+0.0100%	8h	2,314	+0.043%	$628K	$789K	20x	as long as short
MEXC YFI_USDT	+0.0100%	8h	2,313	0.000%	$884K	$295K	75x	as long as short
KuCoin YFIUSDTM	+0.0100%	8h	2,312.4	−0.026%	$383K	$88K	30x	as long as short
BingX YFI-USDTlong	+0.0100%	8h	2,313	long leg	—	$11.8M	—
Variational Omni YFI	+0.0100%	8h	2,310.6	−0.104%	$9K	$1K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin YFI-USDT	+0.0101%	8h	2,314	+0.043%	$118K	$26K	75x	as long as short
Gate YFI_USDT	+0.0268%	8h	2,316	+0.130%	$300K	$147K	50x	as long as short