Funding arb · Price arb /

WMT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: Bybit against Injective+1.208%78s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bybit

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

The price spread pays, funding is against you. Bybit is 1.208% dearer against Injective than usual: you sell high and buy low (spread +1.208% now, against zero (this spread has no 7-day history yet)): +$121 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. The two prices were read 78 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 WMT/USDC PERP	106.82	0.0033	pay 0.0004% / 1h	58m 01s	$3K	$26K	12x
Short	Bybit WMTUSDT	108.11	0	get 0.0000% / 8h	7h 58m	$120K	$15K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +1.208%Rate

Funding earned: −$7
Price spread: +1.208% → 0.000%: $120.76
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $102.74
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 22 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 Bybit live order book, 22 min ago	6.94 bp	35.7 bp −$36	doesn't fit	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.

WMT on 15 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
Aster WMTUSDT	0.0000%	8h	107.96	+1.063%	$4K	$76	20x	as long as short
Extended WMT-USD	0.0000%	1h	107.98	+1.085%	$23K	$89K	10x	as long as short
Binance WMTUSDT	0.0000%	8h	108.00	+1.109%	$1.6M	$1.1M	20x	as long as short
Bybit WMTUSDTshort	0.0000%	8h	108.11	+1.208%	$120K	$15K	50x
OKX WMT-USDT-SWAP	0.0000%	8h	107.91	+1.020%	$81K	$34K	20x	as long as short
Gate WMT_USDT	0.0000%	8h	107.90	+1.011%	$809K	$28K	25x	as long as short
Bitget WMTUSDT	0.0000%	8h	107.95	+1.058%	$545K	$95K	50x	as long as short
Variational Omni WMT	0.0000%	8h	107.97	+1.077%	$61K	$62K	—	as long as short
GRVT WMT_USDT_Perp	0.0000%	8h	107.98	+1.088%	$659	$136K	10x	as long as short
HTX WMT-USDT	0.0000%	8h	108.14	+1.236%	$5K	$344K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WMT/USDC PERPlong	+0.0033%	1h	106.82	long leg	$3K	$26K	12x
QFEX WMT-USD	+0.0039%	1h	107.94	+1.048%	$1.1M	$2.6M	10x	as long as short
KuCoin WMTUSDTM	+0.0100%	8h	107.91	+1.020%	$34K	$527K	20x	as long as short
SunX WMT-USDT	+0.0100%	8h	107.99	+1.095%	$1K	$2.8M	10x	as long as short
edgeX WMTUSDC	+0.0924%	4h	107.98	+1.086%	$15K	$256K	10x	as long as short