Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h +0.045%

Price spread now: Gate against Injective−8.938%54s7-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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 8.938% cheaper against Injective than usual: you would sell low and buy high (−$894 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	Injective BX/USDC PERP	138.74	0.0220	pay 0.0028% / 1h	50m 28s	$4K	$32K	12x
Short	Gate BX_USDT	126.34	0	get 0.0000% / 8h	4h 50m	$423K	$27K	20x

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 −8.938%Rate

Funding earned: −$46.2
Price spread: −8.938% → 0.000%: −$893.76
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: −$954.98
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 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, 5 min ago	11.88 bp	77.1 bp −$77	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.

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	−0.0589%	1h	126.20	−9.038%	$664K	$211K	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.16	−9.065%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.32	−8.952%	$485K	$836K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.34	−8.938%	$164K	$113K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.01	−8.455%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDTshort	0.0000%	8h	126.34	−8.938%	$423K	$27K	20x
Bitget BXUSDT	0.0000%	8h	126.39	−8.902%	$899K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.24	−9.012%	$644	$112K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.18	−9.053%	$978	$312K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.30	−8.966%	$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
Injective BX/USDC PERPlong	+0.0220%	1h	138.74	long leg	$4K	$32K	12x
KuCoin BXUSDTM	+0.0237%	8h	126.09	−9.118%	$114K	$965K	20x	as long as short
Variational Omni BX	+0.0572%	8h	126.17	−9.058%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0803%	8h	126.29	−8.975%	$780K	$486K	20x	as long as short