Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Injective against Bybit+1.095%98s7-day average — · you sell dearer than you buy

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 7 days+0.246%+$25 on $10k

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 1.095% dearer against Bybit than usual: you sell high and buy low: +$109 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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 GBPUSDUSDT	1.3357	0	get 0.0000% / 8h	6h 17m	$241K	$99K	100x
Short	Injective GBPUSD/USDC PERP	1.3504	0.0220	get 0.0028% / 1h	17m 48s	$11K	$72K	101x

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 +1.095%Rate

Funding earned: $46.2
Price spread: +1.095% → 0.000%: $109.45
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: $144.63
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 28 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, 28 min ago	0.04 bp	17.4 bp −$17	36.7 bp −$367	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.

GBP on 13 exchanges

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
Hibachi GBP/USDT-P	−0.0032%	1h	1.3360	+0.017%	$22K	$42K	20x	as long as short
Nado GBPUSD-PERP	0.0000%	1h	1.3362	+0.036%	$16K	$1K	40x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3358	+0.007%	$222K	$1.0M	50x	as long as short
Bybit GBPUSDUSDTlong	0.0000%	8h	1.3357	long leg	$241K	$99K	100x
Gate GBPUSD_USDT	0.0000%	8h	1.3385	+0.207%	$222K	$14K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3360	+0.019%	$12K	$8K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3360	+0.019%	—	$1.8M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3355	−0.015%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3386	+0.214%	$5K	$338K	20x	as long as short
tradeXYZ xyz:GBP	+0.0004%	1h	1.3361	+0.027%	$257K	$360K	50x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0038%	1h	1.3350	−0.053%	—	$5K	100x	as long as short
MEXC GBP_USDT	+0.0168%	4h	1.3361	+0.027%	$26.3M	$339K	100x	as long as short
Injective GBPUSD/USDC PERPshort	+0.0220%	1h	1.3504	+1.095%	$11K	$72K	101x