Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.046%

Price spread now: Injective against Binance−1.066%7-day average — · you buy dearer than you sell

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

Long on Binance 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 1.066% cheaper against Binance than usual: you would sell low and buy high (spread −1.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$107 on $10k: about 4 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	Binance COSTUSDT	901.59	0	get 0.0000% / 8h	2h 53m	$1.1M	$968K	20x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	53m 00s	$2K	$28K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −1.066%Rate

Funding earned: $7
Price spread: −1.066% → 0.000%: −$106.59
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$109.61
Costs to cover: 0.100%
Break-even: 116.6 days

Slippage unknown: Binance: 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 Binance live order book, 10 min ago	1.11 bp	14.0 bp −$14	56.2 bp −$562	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.

COST on 15 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 COSTUSDT	0.0000%	8h	901.42	−0.019%	$45K	$178	20x	as long as short
Binance COSTUSDTlong	0.0000%	8h	901.59	long leg	$1.1M	$968K	20x
Bybit COSTUSDT	0.0000%	8h	902.03	+0.049%	$491K	$221K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	902.01	+0.047%	$442K	$121K	10x	as long as short
Gate COST_USDT	0.0000%	8h	901.51	−0.009%	$522K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	900.89	−0.078%	$403K	$78K	25x	as long as short
Variational Omni COST	0.0000%	8h	901.41	−0.020%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	900.20	−0.154%	$1K	$2.9M	10x	as long as short
HTX COST-USDT	0.0000%	8h	902.73	+0.126%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0003%	1h	901.30	−0.032%	$1.1M	$2.5M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−1.066%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	−0.370%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	901.60	+0.001%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	901.00	−0.065%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	900.40	−0.132%	$47K	$894K	20x	as long as short