Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0754%/8h= −82.5% APRpaid last 24h +0.018%

Price spread now: BingX against Injective−0.596%7-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 BingX

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 −$23 a day on $10k at the current rate, and BingX is 0.596% cheaper against Injective than usual: you would sell low and buy high (−$60 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AR/USDC PERP	4.5290	0.0854	pay 0.0107% / 1h	40m 49s	$548	$3K	5.5x
Short	BingX AR-USDT	4.5020	0.0100	get 0.0100% / 8h	4h 40m	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.596%Rate

Funding earned: −$158.26
Price spread: −0.596% → 0.000%: −$59.62
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$227.9
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BingX: live order book, 9 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 BingX live order book, 9 min ago	3.35 bp	21.6 bp −$22	46.2 bp −$462	280.5 bp −$28.0K	617.9 bp −$308.9K

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 17 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4770	−1.148%	$575K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0002%	8h	4.5010	−0.618%	$2.3M	$18.1M	20x	as long as short
ApeX Omni ARUSDT	+0.0010%	1h	4.4660	−1.391%	$19K	$721K	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5068	−0.490%	$4.0M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4905	−0.851%	$26K	$478K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5010	−0.618%	$8.9M	$50.1M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4996	−0.649%	$4.6M	$8.2M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4980	−0.684%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5020	−0.596%	$6.4M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4960	−0.729%	$1.2M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5000	−0.640%	$3.9M	$5.1M	75x	as long as short
BingX AR-USDTshort	+0.0100%	8h	4.5020	−0.596%	—	$2.8M	—
Variational Omni AR	+0.0100%	8h	4.4737	−1.222%	$237K	$246K	—	as long as short
Extended AR-USD	+0.0104%	1h	4.4970	−0.708%	$36K	$235K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4820	−1.038%	$427K	$481K	20x	as long as short
Kraken Futures PF_ARUSD	+0.0694%	1h	4.4775	−1.138%	$60K	$160K	20x	as long as short
Injective AR/USDC PERPlong	+0.0854%	1h	4.5290	long leg	$548	$3K	5.5x