Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h +0.001%

Price spread now: Injective against Bitget+0.809%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 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. Injective is 0.809% dearer against Bitget than usual: you sell high and buy low (spread +0.809% now, against zero (this spread has no 7-day history yet)): +$81 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ARUSDT	4.5740	0.0100	pay 0.0100% / 8h	6h 22m	$3.9M	$5.5M	75x
Short	Injective AR/USDC PERP	4.6110	−0.0353	pay 0.0044% / 1h	22m 50s	$2K	$2K	5.5x

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

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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 +0.809%Rate

Funding earned: −$95.12
Price spread: +0.809% → 0.000%: $80.89
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: −$26.25
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 5 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, 5 min ago	3.30 bp	23.4 bp −$23	89.9 bp −$899	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.

AR on 16 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
Kraken Futures PF_ARUSD	−0.1670%	1h	4.5884	+0.314%	$56K	$149K	20x	as long as short
Injective AR/USDC PERPshort	−0.0353%	1h	4.6110	+0.809%	$2K	$2K	5.5x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5629	−0.243%	$587K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0116%	8h	4.5760	+0.044%	$2.3M	$19.6M	20x	as long as short
Extended AR-USD	+0.0048%	1h	4.5746	+0.012%	$37K	$238K	10x	as long as short
MEXC AR_USDT	+0.0048%	8h	4.5730	−0.022%	$6.5M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0051%	8h	4.5753	+0.028%	$9.1M	$53.1M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5830	+0.197%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5721	−0.042%	$26K	$495K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5770	+0.066%	$4.7M	$8.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5730	−0.022%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5740	0.000%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDTlong	+0.0100%	8h	4.5740	long leg	$3.9M	$5.5M	75x
BingX AR-USDT	+0.0100%	8h	4.5750	+0.022%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5727	−0.027%	$188K	$211K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5780	+0.087%	$20K	$747K	50x	as long as short