Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0566%/8h= −61.9% APRpaid last 24h −0.028%

Price spread now: Gate against Injective−5.086%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 Gate

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 −$17 a day on $10k at the current rate, and Gate is 5.086% cheaper against Injective than usual: you would sell low and buy high (−$509 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	4.4240	0.0666	pay 0.0083% / 1h	15m 17s	$2K	$5K	5.5x
Short	Gate AR_USDT	4.1990	0.0100	get 0.0100% / 8h	2h 15m	$2.0M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −5.086%Rate

Funding earned: −$118.8
Price spread: −5.086% → 0.000%: −$508.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$642.41
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	7.21 bp	30.3 bp −$30	186.3 bp −$1,863	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.

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
Kraken Futures PF_ARUSD	−0.0917%	1h	4.2017	−5.025%	$52K	$185K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2054	−4.942%	$540K	—	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2068	−4.910%	$3.4M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2097	−4.844%	$42K	$464K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2113	−4.807%	$8.4M	$52.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2132	−4.765%	$4.1M	$9.3M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2150	−4.724%	$2.2M	$17.2M	20x	as long as short
Gate AR_USDTshort	+0.0100%	8h	4.1990	−5.086%	$2.0M	$3.5M	50x
MEXC AR_USDT	+0.0100%	8h	4.2040	−4.973%	$5.8M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.1990	−5.086%	$1.1M	$1.3M	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	4.2060	−4.928%	$3.7M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2040	−4.973%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.1963	−5.147%	$235K	$626K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.1730	−5.674%	$20K	$716K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2044	−4.964%	$36K	$248K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2060	−4.928%	$408K	$457K	20x	as long as short
Injective AR/USDC PERPlong	+0.0666%	1h	4.4240	long leg	$2K	$5K	5.5x