Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.066%

Price spread now: Gate against Injective−0.886%114s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.886% cheaper against Injective than usual: you would sell low and buy high (−$89 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 114 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 GBPUSD/USDC PERP	1.3504	0.0033	pay 0.0004% / 1h	29m 21s	$11K	$72K	101x
Short	Gate GBPUSD_USDT	1.3384	0	get 0.0000% / 8h	5h 29m	$222K	$14K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.886%Rate

Funding earned: −$7
Price spread: −0.886% → 0.000%: −$88.57
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$110.59
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 10 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 Gate live order book, 10 min ago	2.61 bp	89.2 bp −$89	310.9 bp −$3,109	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.

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
Nado GBPUSD-PERP	−0.0002%	1h	1.3370	−0.989%	$16K	$1K	40x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3365	−1.026%	$225K	$1.0M	50x	as long as short
Bybit GBPUSDUSDT	0.0000%	8h	1.3370	−0.993%	$248K	$105K	100x	as long as short
Gate GBPUSD_USDTshort	0.0000%	8h	1.3384	−0.886%	$222K	$14K	100x
Bitget GBPUSDUSDT	0.0000%	8h	1.3369	−0.997%	$12K	$6K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3371	−0.982%	—	$1.7M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3362	−1.046%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3383	−0.893%	$5K	$337K	20x	as long as short
tradeXYZ xyz:GBP	0.0000%	1h	1.3370	−0.989%	$257K	$357K	50x	as long as short
Injective GBPUSD/USDC PERPlong	+0.0033%	1h	1.3504	long leg	$11K	$72K	101x

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	1.3357	−1.083%	—	$1	100x	as long as short
Hibachi GBP/USDT-P	+0.0080%	1h	1.3369	−0.995%	$24K	$45K	20x	as long as short
MEXC GBP_USDT	+0.0164%	4h	1.3368	−1.004%	$26.3M	$312K	100x	as long as short