Funding arb · Price arb /

ASML

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bybit−1.373%7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Funding pays, the price is against you. Injective is 1.373% cheaper against Bybit than usual: you would sell low and buy high (spread −1.373% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$137 on $10k: about 5 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ASMLUSDT	1,725.9	0	get 0.0000% / 8h	7h 10m	$887K	$126K	25x
Short	Injective ASML/USDC PERP	1,702.2	0.0033	get 0.0004% / 1h	10m 43s	$11K	$37K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now −1.373%Rate

Funding earned: $7
Price spread: −1.373% → 0.000%: −$137.26
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$141.28
Costs to cover: 0.110%
Break-even: 148.3 days

Slippage unknown: Bybit: live order book, 59 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 Bybit live order book, 59 min ago	6.35 bp	27.8 bp −$28	118.9 bp −$1,189	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.

ASML 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
Aster ASMLUSDT	0.0000%	8h	1,725.5	−0.025%	$14K	$12K	20x	as long as short
Bybit ASMLUSDTlong	0.0000%	8h	1,725.9	long leg	$887K	$126K	25x
OKX ASML-USDT-SWAP	0.0000%	8h	1,726.9	+0.057%	$729K	$305K	20x	as long as short
Gate ASML_USDT	0.0000%	8h	1,725.7	−0.014%	$1.1M	$701K	50x	as long as short
Bitget ASMLUSDT	0.0000%	8h	1,725.8	−0.009%	$1.0M	$502K	20x	as long as short
SunX ASML-USDT	0.0000%	8h	1,725.5	−0.025%	$1K	$1.2M	10x	as long as short
HTX ASML-USDT	0.0000%	8h	1,724.9	−0.061%	$11K	$59K	20x	as long as short
GRVT ASML_USDT_Perp	+0.0001%	8h	1,725.9	0.000%	$380	$192K	10x	as long as short
Lighter ASML	+0.0032%	1h	1,727.5	+0.092%	$57K	$3K	10x	as long as short
Injective ASML/USDC PERPshort	+0.0033%	1h	1,702.2	−1.373%	$11K	$37K	12x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ASML	+0.0050%	1h	1,725.6	−0.018%	$2.8M	$768K	10x	as long as short
Polymarket Perps ASML-USD	+0.0050%	1h	1,725.8	−0.006%	$69K	$446K	10x	as long as short
KuCoin ASMLUSDTM	+0.0100%	8h	1,723.7	−0.126%	$217K	$326K	10x	as long as short
Phoenix ASML	+0.0140%	1h	1,726.2	+0.017%	$828	$19K	10x	as long as short
Binance ASMLUSDT	+0.0740%	8h	1,726.5	+0.033%	$3.6M	$3.2M	20x	as long as short
Extended ASML-USD	+0.0744%	1h	1,726.1	+0.010%	$4K	$344K	10x	as long as short
BloFin ASML-USDT	+0.0752%	8h	1,726.8	+0.049%	$46K	$102K	20x	as long as short