Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1604%/8h= +175.7% APRpaid last 24h +0.482%

Price spread now: Bybit against Injective+0.233%7-day average +0.382% · you sell dearer than you buy

Net, funding: paid 7d − costs+$227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1201.198% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+3.469%+$347 on $10k

Price spread, last 4 days (all we have)−1.318%−$132 · spread now +0.233%, 7d avg +0.382%

Together, before fees+2.151%+$215 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.149% cheaper against Injective than usual: you would sell low and buy high (spread +0.233% now, against its 7-day average of +0.382%). If the spread goes back, that is −$15 on $10k: about 7 hours of funding at the current rate (+$48 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ARB/USDC PERP	0.2189	−0.1649	get 0.0206% / 1h	41m 24s	$39K	$372K	12x
Short	Bybit ARBUSDT	0.2194	−0.0045	pay 0.0045% / 8h	4h 41m	$55.6M	$126.0M	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 +0.233%Rate

Funding earned: $336.91
Price spread: +0.233% → +0.382%: −$14.92
Slippage, 4 orders: −$108.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $202.18
Costs to cover: 1.198%
Break-even: 2.8 days

Slippage from Injective: live order book, 18 min ago; Bybit: live order book, 3 min ago.

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 live order book, 18 min ago	49.82 bp	49.8 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.23 bp	11.1 bp −$11	21.8 bp −$218	49.5 bp −$4,949	doesn't fit

ARB on 36 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
Injective ARB/USDC PERPlong	−0.1649%	1h	0.2189	long leg	$39K	$372K	12x
01 Exchange ARBUSD	−0.0168%	1h	0.2197	+0.343%	$7K	$2K	10x	as long as short
Polymarket Perps ARB-USD	−0.0153%	1h	0.2197	+0.384%	$91K	$2.2M	10x	as long as short
MEXC ARB_USDT	−0.0135%	8h	0.2193	+0.192%	$40.5M	$59.6M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0134%	8h	0.2194	+0.247%	$22.2M	$147.6M	50x	as long as short
Variational Omni ARB	−0.0116%	8h	0.2201	+0.559%	$1.8M	$2.9M	—	as long as short
Gate ARB_USDT	−0.0099%	8h	0.2194	+0.242%	$5.3M	$18.7M	60x	as long as short
Orderly PERP_ARB_USDC	−0.0077%	8h	0.2195	+0.274%	$12K	$390K	10x	as long as short
Bybit ARBUSDTshort	−0.0045%	8h	0.2194	+0.233%	$55.6M	$126.0M	50x
Kraken Futures PF_ARBUSD	−0.0006%	1h	0.2199	+0.449%	$1.1M	$4.4M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2199	+0.466%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2195	+0.292%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2195	+0.293%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2197	+0.359%	$351K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0008%	8h	0.2195	+0.283%	$64.0M	$306.4M	75x	as long as short
SoDEX ARB-USD	+0.0039%	1h	0.2195	+0.260%	$10K	$2.3M	5x	as long as short
BloFin ARB-USDT	+0.0041%	8h	0.2197	+0.370%	$3.1M	$2.6M	75x	as long as short
Bitget ARBUSDT	+0.0064%	8h	0.2194	+0.228%	$20.9M	$34.6M	50x	as long as short
BingX ARB-USDC	+0.0066%	8h	0.2193	+0.196%	—	$6.5M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2195	+0.256%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2198	+0.425%	$1.2M	$5.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2197	+0.352%	$38.0M	$48.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2199	+0.466%	$634K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2198	+0.422%	$43K	$169K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2195	+0.265%	$19.4M	$15.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2199	+0.445%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2201	+0.547%	$469K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2200	+0.503%	$120K	$284K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2198	+0.411%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2198	+0.416%	$298K	$952K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2199	+0.457%	$4.9M	$12.8M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2203	+0.640%	$493K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0225%	1h	0.2199	+0.436%	$476K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2195	+0.291%	$820K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2193	+0.201%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0615%	1h	0.2201	+0.562%	$995K	$2.8M	20x	as long as short