Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Injective against Bybit+1.065%58s7-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 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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 1.065% dearer against Bybit than usual: you sell high and buy low: +$107 more if the spread goes back to zero (this spread has no 7-day history yet). 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	Bybit HIMSUSDT	29.100	0	get 0.0000% / 8h	7h 02m	$289K	$139K	25x
Short	Injective HIMS/USDC PERP	29.410	0.0220	get 0.0028% / 1h	2m 26s	$13K	$22K	5.5x

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 +1.065%Rate

Funding earned: $46.2
Price spread: +1.065% → 0.000%: $106.53
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: $141.71
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 22 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, 22 min ago	10.37 bp	90.9 bp −$91	210.8 bp −$2,108	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.

HIMS on 14 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
Nado HIMS-PERP	−0.0114%	1h	29.103	+0.009%	$2K	$2K	10x	as long as short
QFEX HIMS-USD	−0.0008%	1h	29.100	0.000%	$1.3M	$550K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.083	−0.060%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.099	−0.003%	$963K	$2.8M	20x	as long as short
Bybit HIMSUSDTlong	0.0000%	8h	29.100	long leg	$289K	$139K	25x
OKX HIMS-USDT-SWAP	0.0000%	8h	29.150	+0.172%	$280K	$129K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.090	−0.034%	$508K	$225K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.080	−0.068%	$97K	$75K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.093	−0.024%	—	$2.1M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.127	+0.093%	$7K	$39K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.100	0.000%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.096	−0.014%	$3.3M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.080	−0.069%	$132K	$134K	20x	as long as short
Injective HIMS/USDC PERPshort	+0.0220%	1h	29.410	+1.065%	$13K	$22K	5.5x