Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1500%/8h= +164.3% APRpaid last 24h +0.460%

Price spread now: OKX against Injective+0.027%58s7-day average +0.376% · you sell dearer than you buy

Net, funding: paid 7d − costs+$217as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1201.205% of the position

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+3.372%+$337 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.027%, 7d avg +0.376%

Together, before fees+3.353%+$335 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.349% cheaper against Injective than usual: you would sell low and buy high (spread +0.027% now, against its 7-day average of +0.376%). If the spread goes back, that is −$35 on $10k: about 19 hours of funding at the current rate (+$45 a day). The two prices were read 58 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 ARB/USDC PERP	0.2186	−0.1592	get 0.0199% / 1h	0m 15s	$39K	$372K	12x
Short	OKX ARB-USDT-SWAP	0.2187	−0.0092	pay 0.0092% / 8h	1h 00m	$22.0M	$144.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.027%Rate

Funding earned: $315.03
Price spread: +0.027% → +0.376%: −$34.85
Slippage, 4 orders: −$110.47
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $159.68
Costs to cover: 1.205%
Break-even: 3.5 days

Slippage from Injective: live order book, 44 min ago; OKX: live order book, 4 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, 44 min ago	51.93 bp	51.9 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.23 bp	7.7 bp −$8	17.9 bp −$179	doesn't fit	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	−0.1592%	1h	0.2186	long leg	$39K	$372K	12x
01 Exchange ARBUSD	−0.0176%	1h	0.2186	0.000%	$7K	$236	10x	as long as short
Polymarket Perps ARB-USD	−0.0168%	1h	0.2187	+0.027%	$67K	$2.1M	10x	as long as short
SoDEX ARB-USD	−0.0111%	1h	0.2186	+0.018%	$9K	$2.2M	5x	as long as short
OKX ARB-USDT-SWAPshort	−0.0092%	8h	0.2187	+0.027%	$22.0M	$144.4M	50x
MEXC ARB_USDT	−0.0091%	8h	0.2187	+0.032%	$41.9M	$62.5M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0038%	8h	0.2186	0.000%	$12K	$407K	10x	as long as short
Variational Omni ARB	−0.0035%	8h	0.2185	−0.024%	$1.8M	$3.0M	—	as long as short
Bybit ARBUSDT	−0.0008%	8h	0.2186	+0.018%	$53.6M	$126.4M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2187	+0.041%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2187	+0.055%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2188	+0.079%	$44K	—	150x	as long as short
Binance ARBUSDT	+0.0015%	8h	0.2187	+0.037%	$62.6M	$301.9M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2186	−0.009%	$349K	$3.0M	25x	as long as short
Gate ARB_USDT	+0.0018%	8h	0.2187	+0.041%	$5.4M	$18.5M	60x	as long as short
RISEx ARB/USDC	+0.0056%	1h	0.2188	+0.091%	$485K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0071%	8h	0.2186	−0.014%	$3.0M	$2.3M	75x	as long as short
Bitget ARBUSDT	+0.0073%	8h	0.2186	0.000%	$21.1M	$34.7M	50x	as long as short
BingX ARB-USDC	+0.0074%	8h	0.2186	+0.018%	—	$6.5M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2187	+0.049%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2187	+0.027%	$1.2M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2188	+0.101%	$36.9M	$49.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2189	+0.136%	$629K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2187	+0.039%	$42K	$148K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2188	+0.087%	$19.4M	$14.2M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2192	+0.257%	$39K	$465K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2192	+0.280%	$467K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2197	+0.503%	$119K	$279K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2188	+0.091%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2187	+0.050%	$292K	$838K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2187	+0.046%	$4.8M	$12.9M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0233%	1h	0.2188	+0.072%	$1.1M	$4.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2187	+0.068%	$826K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2196	+0.439%	$524K	$1.5M	50x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2186	−0.008%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0568%	1h	0.2189	+0.156%	$983K	$2.8M	20x	as long as short