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 −0.064%

Price spread now: Binance against Injective−1.394%87s7-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 Binance

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 1.394% cheaper against Injective than usual: you would sell low and buy high (−$139 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 87 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 HIMS/USDC PERP	29.410	0.0220	pay 0.0028% / 1h	51m 50s	$13K	$22K	5.5x
Short	Binance HIMSUSDT	29.000	0	get 0.0000% / 8h	7h 51m	$961K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −1.394%Rate

Funding earned: −$46.2
Price spread: −1.394% → 0.000%: −$139.41
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$195.63
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Binance: live order book, 13 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 Binance live order book, 13 min ago	3.44 bp	19.1 bp −$19	42.2 bp −$422	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.

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
tradeXYZ xyz:HIMS	−0.0228%	1h	28.950	−1.564%	$3.3M	$1.6M	10x	as long as short
Nado HIMS-PERP	−0.0200%	1h	29.077	−1.131%	$2K	$2K	10x	as long as short
QFEX HIMS-USD	−0.0008%	1h	29.040	−1.258%	$1.3M	$553K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.007	−1.370%	$4K	$2K	20x	as long as short
Binance HIMSUSDTshort	0.0000%	8h	29.000	−1.394%	$961K	$2.7M	20x
Bybit HIMSUSDT	0.0000%	8h	29.000	−1.394%	$288K	$137K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	28.990	−1.428%	$279K	$129K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.015	−1.343%	$502K	$199K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.060	−1.188%	$97K	$76K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.037	−1.268%	—	$2.4M	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX HIMS-USDT	0.0000%	8h	29.131	−0.949%	$7K	$39K	10x	as long as short
Vest HIMS-USD-PERP	+0.0046%	1h	29.090	−1.088%	—	—	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	28.990	−1.428%	$132K	$77K	20x	as long as short
Injective HIMS/USDC PERPlong	+0.0220%	1h	29.410	long leg	$13K	$22K	5.5x