Funding arb · Price arb /

ORCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0283%/8h= −31.0% APRpaid last 24h −0.026%

Price spread now: Injective against Bitget+0.175%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

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. Injective is 0.175% dearer against Bitget than usual: you sell high and buy low (spread +0.175% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.045% in total) that is about 27 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.045% in total (about -2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORCLUSDT	148.80	0.0316	pay 0.0316% / 8h	2h 29m	$7.4M	$4.7M	20x
Short	Injective ORCL/USDC PERP	149.06	0.0033	get 0.0004% / 1h	29m 13s	$20K	$14K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +0.175%Rate

Funding earned: −$59.36
Price spread: +0.175% → 0.000%: $17.47
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$53.91
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	1.34 bp	12.6 bp −$13	25.2 bp −$252	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.

ORCL on 28 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
edgeX ORCLUSDC	−0.0616%	4h	148.80	−0.002%	$28K	$215K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	148.81	+0.004%	$93K	$16K	20x	as long as short
Extended ORCL_24_5-USD	0.0000%	1h	148.81	+0.008%	$385K	$1.4M	10x	as long as short
Binance ORCLUSDT	0.0000%	8h	148.82	+0.013%	$24.8M	$35.9M	20x	as long as short
Gate ORCL_USDT	0.0000%	8h	148.85	+0.034%	$2.2M	$3.1M	25x	as long as short
Variational Omni ORCL	0.0000%	8h	148.80	−0.001%	$1.3M	$221K	—	as long as short
GRVT ORCL_USDT_Perp	0.0000%	8h	148.78	−0.013%	$1K	$205K	10x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.02	+0.148%	$3K	$2.9M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	148.90	+0.067%	$52K	$22K	20x	as long as short
Lighter ORCL	+0.0032%	1h	148.88	+0.054%	$471K	$53K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ORCL	+0.0032%	1h	148.85	+0.034%	$622K	$465K	10x	as long as short
Injective ORCL/USDC PERPshort	+0.0033%	1h	149.06	+0.175%	$20K	$14K	12x
Vest ORCL-USD-PERP	+0.0046%	1h	148.81	+0.007%	—	$127K	25x	as long as short
tradeXYZ xyz:ORCL	+0.0050%	1h	148.71	−0.060%	$21.5M	$8.6M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	148.70	−0.067%	$130K	$122K	10x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	148.80	0.000%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	148.63	−0.114%	$737K	$610K	10x	as long as short
QFEX ORCL-USD	+0.0053%	1h	148.85	+0.034%	$1.1M	$2.8M	10x	as long as short
KuCoin ORCLUSDTM	+0.0100%	8h	148.85	+0.034%	$258K	$196K	20x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	148.68	−0.081%	$22K	$269K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	148.77	−0.020%	$189	—	10x	as long as short
Nado ORCL-PERP	+0.0124%	1h	148.70	−0.065%	$92K	$18K	10x	as long as short
OKX ORCL-USDT-SWAP	+0.0201%	8h	148.91	+0.074%	$4.7M	$5.7M	20x	as long as short
Arcus ORCL-USD	+0.0251%	1h	148.76	−0.027%	$78K	$80K	10x	as long as short
Bitget ORCLUSDTlong	+0.0316%	8h	148.80	long leg	$7.4M	$4.7M	20x
Phoenix ORCL	+0.0431%	1h	148.78	−0.013%	$149K	$100K	10x	as long as short
Bybit ORCLUSDT	+0.0465%	8h	148.84	+0.027%	$3.5M	$1.6M	50x	as long as short
BloFin ORCL-USDT	+0.0470%	8h	148.89	+0.060%	$47K	$50K	20x	as long as short