Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.030%

Price spread now: Injective against OKX+9.555%108s7-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 +$7 a day on $10k at the current rate, and Injective is 9.555% dearer against OKX than usual: you sell high and buy low: +$955 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 108 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	OKX BX-USDT-SWAP	126.64	0	get 0.0000% / 8h	7h 51m	$164K	$115K	20x
Short	Injective BX/USDC PERP	138.74	0.0220	get 0.0028% / 1h	51m 32s	$4K	$31K	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 +9.555%Rate

Funding earned: $46.2
Price spread: +9.555% → 0.000%: $955.46
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: $991.64
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 43 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, 43 min ago	4.35 bp	58.5 bp −$58	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.

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
Aster BXUSDT	0.0000%	8h	126.26	−0.301%	$5K	$868	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.52	−0.095%	$481K	$804K	25x	as long as short
OKX BX-USDT-SWAPlong	0.0000%	8h	126.64	long leg	$164K	$115K	20x
QFEX BX-USD	0.0000%	1h	126.57	−0.055%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.68	+0.032%	$422K	$24K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.71	+0.055%	$901K	$27K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.62	−0.013%	$43K	$12K	—	as long as short
SunX BX-USDT	0.0000%	8h	126.63	−0.008%	$985	$305K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.70	+0.047%	$7K	$4K	20x	as long as short
Binance BXUSDT	+0.0044%	8h	126.58	−0.050%	$772K	$505K	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	+0.0100%	8h	126.38	−0.205%	$110K	$771K	20x	as long as short
tradeXYZ xyz:BX	+0.0154%	1h	126.46	−0.142%	$666K	$257K	10x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	138.74	+9.555%	$4K	$31K	12x
GRVT BX_USDT_Perp	+0.0342%	8h	126.67	+0.024%	$827	$102K	10x	as long as short