Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.008%

Price spread now: OKX against Injective+1.061%58s7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

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

The price spread pays, funding is against you. OKX is 1.061% dearer against Injective than usual: you sell high and buy low (spread +1.061% now, against zero (this spread has no 7-day history yet)): +$106 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. The two prices were read 58 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 COST/USDC PERP	891.98	0.0033	pay 0.0004% / 1h	22m 26s	$2K	$28K	12x
Short	OKX COST-USDT-SWAP	901.44	0.0005	get 0.0005% / 8h	3h 22m	$441K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +1.061%Rate

Funding earned: −$5.98
Price spread: +1.061% → 0.000%: $106.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $90.06
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 28 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 OKX live order book, 28 min ago	3.67 bp	9.2 bp −$9	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.

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	901.26	+1.041%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	901.38	+1.054%	$1.1M	$952K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	901.30	+1.045%	$491K	$221K	25x	as long as short
Gate COST_USDT	0.0000%	8h	900.78	+0.987%	$521K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	900.21	+0.923%	$403K	$78K	25x	as long as short
Variational Omni COST	0.0000%	8h	900.32	+0.935%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	899.60	+0.854%	$2K	$2.8M	10x	as long as short
HTX COST-USDT	0.0000%	8h	902.45	+1.174%	$10K	$42K	10x	as long as short
OKX COST-USDT-SWAPshort	+0.0005%	8h	901.44	+1.061%	$441K	$116K	10x
QFEX COST-USD	+0.0009%	1h	901.08	+1.020%	$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 PERPlong	+0.0033%	1h	891.98	long leg	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	+0.703%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	900.98	+1.009%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	900.78	+0.987%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	900.60	+0.966%	$47K	$890K	20x	as long as short