Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: SunX against Injective+0.686%61s7-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 SunX

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. SunX is 0.686% dearer against Injective than usual: you sell high and buy low (spread +0.686% now, against zero (this spread has no 7-day history yet)): +$69 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months. The two prices were read 61 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	53m 19s	$2K	$28K	12x
Short	SunX COST-USDT	898.10	0	get 0.0000% / 8h	7h 53m	$1K	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.686%Rate

Funding earned: −$7
Price spread: +0.686% → 0.000%: $68.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $53.59
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 4 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 SunX live order book, 4 min ago	500.53 bp	doesn't fit	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	898.78	+0.762%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.89	+0.775%	$491K	$218K	25x	as long as short
Gate COST_USDT	0.0000%	8h	898.91	+0.777%	$523K	$7K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.42	+0.722%	$403K	$112K	25x	as long as short
SunX COST-USDTshort	0.0000%	8h	898.10	+0.686%	$1K	$3.2M	10x
HTX COST-USDT	0.0000%	8h	900.59	+0.965%	$10K	$42K	10x	as long as short
OKX COST-USDT-SWAP	+0.0016%	8h	898.94	+0.780%	$444K	$135K	10x	as long as short
QFEX COST-USD	+0.0017%	1h	897.58	+0.628%	$1.1M	$3.2M	10x	as long as short
Injective COST/USDC PERPlong	+0.0033%	1h	891.98	long leg	$2K	$28K	12x
tradeXYZ xyz:COST	+0.0039%	1h	896.53	+0.510%	$1.8M	$526K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended COST-USD	+0.0040%	1h	898.25	+0.703%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	896.76	+0.536%	—	—	25x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.00	+0.675%	$48K	$854K	20x	as long as short
Variational Omni COST	+0.0399%	8h	898.40	+0.720%	$42K	$17K	—	as long as short
Binance COSTUSDT	+0.0557%	8h	898.61	+0.744%	$1.1M	$963K	20x	as long as short