Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.028%

Price spread now: Injective against Bybit+9.858%98s7-day average — · you sell dearer than you buy

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 9.858% dearer against Bybit than usual: you sell high and buy low: +$986 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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	Bybit BXUSDT	126.29	0	get 0.0000% / 8h	4h 45m	$485K	$836K	25x
Short	Injective BX/USDC PERP	138.74	0.0220	get 0.0028% / 1h	45m 40s	$4K	$32K	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 +9.858%Rate

Funding earned: $46.2
Price spread: +9.858% → 0.000%: $985.83
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: $1,021.01
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 9 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, 9 min ago	5.15 bp	106.2 bp −$106	226.5 bp −$2,265	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.

BX 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
tradeXYZ xyz:BX	−0.0505%	1h	126.17	−0.095%	$664K	$212K	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.21	−0.060%	$5K	$2K	20x	as long as short
Bybit BXUSDTlong	0.0000%	8h	126.29	long leg	$485K	$836K	25x
OKX BX-USDT-SWAP	0.0000%	8h	126.24	−0.040%	$163K	$113K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.01	+0.570%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.39	+0.079%	$424K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.43	+0.111%	$899K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.23	−0.048%	$644	$112K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.23	−0.048%	$944	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.34	+0.040%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0212%	8h	126.12	−0.135%	$114K	$961K	20x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	138.74	+9.858%	$4K	$32K	12x
Variational Omni BX	+0.0545%	8h	126.23	−0.045%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0767%	8h	126.26	−0.023%	$780K	$489K	20x	as long as short