Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.005%

Price spread now: Bybit against Injective−2.672%68s7-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 Bybit

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

Funding pays, the price is against you. Bybit is 2.672% cheaper against Injective than usual: you would sell low and buy high (spread −2.672% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$267 on $10k: about 4 months of funding at the current rate (+$2 a day). The two prices were read 68 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 BRETT/USDC PERP	0.005839	0.0033	pay 0.0004% / 1h	28m 08s	$61	$854	5.5x
Short	Bybit BRETTUSDT	0.005683	0.0100	get 0.0050% / 4h	1h 28m	$2.1M	$2.1M	25x

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

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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 InjectivebpFee BybitbpOrdersPrice spread, now −2.672%Rate

Funding earned: $14
Price spread: −2.672% → 0.000%: −$267.17
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$264.19
Costs to cover: 0.110%
Break-even: 139.1 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 2 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 Bybit live order book, 2 min ago	5.28 bp	28.3 bp −$28	134.2 bp −$1,342	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.

BRETT on 14 exchanges

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 BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005678	−2.757%	—	—	100x	as long as short
Injective BRETT/USDC PERPlong	+0.0033%	1h	0.005839	long leg	$61	$854	5.5x
Hyperliquid BRETT	+0.0100%	1h	0.005701	−2.363%	$304K	$298K	3x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005697	−2.424%	$1.2M	$2.8M	50x	as long as short
Bybit BRETTUSDTshort	+0.0100%	4h	0.005683	−2.672%	$2.1M	$2.1M	25x
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005689	−2.569%	$140K	$411K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005680	−2.723%	$411K	$93K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005697	−2.432%	$12.0M	$213K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005683	−2.672%	$276K	$108K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005676	−2.792%	$1.3M	$480K	50x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BRETT-USDT	+0.0100%	4h	0.005684	−2.655%	—	$1.4M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005673	−2.840%	$42K	$95K	—	as long as short
BloFin BRETT-USDT	+0.0121%	4h	0.005695	−2.466%	$56K	$197K	50x	as long as short
Kraken Futures PF_BRETTUSD	+0.1269%	1h	0.005694	−2.482%	$38K	$105K	10x	as long as short