Funding arb · Price arb /

COST

RWAall COST markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bybit−0.761%68s7-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 0.761% cheaper against Bybit than usual: you would sell low and buy high (spread −0.761% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$76 on $10k: about 3 months of funding at the current rate (+$1 a day). The two prices were read 68 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 COSTUSDT	898.82	0	get 0.0000% / 8h	6h 04m	$491K	$218K	25x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	4m 04s	$2K	$28K	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 −0.761%Rate

Funding earned: $7
Price spread: −0.761% → 0.000%: −$76.1
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: −$80.12
Costs to cover: 0.110%
Break-even: 87.1 days

Slippage unknown: Bybit: live order book, 56 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, 56 min ago	4.95 bp	13.3 bp −$13	51.9 bp −$519	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	899.05	+0.025%	$45K	$178	20x	as long as short
Bybit COSTUSDTlong	0.0000%	8h	898.82	long leg	$491K	$218K	25x
OKX COST-USDT-SWAP	0.0000%	8h	899.38	+0.062%	$444K	$107K	10x	as long as short
Gate COST_USDT	0.0000%	8h	898.89	+0.008%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.86	+0.004%	$403K	$110K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.10	−0.080%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.59	+0.197%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0009%	1h	898.71	−0.012%	$1.1M	$2.9M	10x	as long as short
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−0.761%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	−0.063%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.63	−0.021%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.53	−0.032%	$1.8M	$514K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.20	−0.069%	$48K	$869K	20x	as long as short
Variational Omni COST	+0.0135%	8h	898.73	−0.010%	$42K	$17K	—	as long as short
Binance COSTUSDT	+0.0261%	8h	898.89	+0.008%	$1.1M	$932K	20x	as long as short