Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4051%/8h= +443.6% APRpaid last 24h +1.169%

Price spread now: Bitget against Injective+1.372%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bitget

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 for this trade now. Funding pays +$122 a day on $10k at the current rate, and Bitget is 1.372% dearer against Injective than usual: you sell high and buy low: +$137 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CC/USDC PERP	0.1144	−0.3951	get 0.0494% / 1h	33m 15s	$6K	$97	5.5x
Short	Bitget CCUSDT	0.1160	0.0100	get 0.0050% / 4h	1h 33m	$930K	$786K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +1.372%Rate

Funding earned: $850.78
Price spread: +1.372% → 0.000%: $137.24
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $976
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 48 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 Bitget live order book, 48 min ago	3.88 bp	21.4 bp −$21	83.8 bp −$838	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.

CC on 19 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 CC/USDC PERPlong	−0.3951%	1h	0.1144	long leg	$6K	$97	5.5x
Gate CC_USDT	+0.0054%	4h	0.1158	+1.206%	$359K	$212K	50x	as long as short
Paradex CC-USD-PERP	+0.0090%	8h	0.1159	+1.270%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1161	+1.477%	$5.4M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1158	+1.248%	$34K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1159	+1.285%	$10.9M	$11.1M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1158	+1.250%	$10.5M	$3.8M	25x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1159	+1.355%	$2.5M	$3.4M	20x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1158	+1.267%	$1.6M	$309K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1159	+1.346%	$491K	$115K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDTshort	+0.0100%	4h	0.1160	+1.372%	$930K	$786K	20x
BingX CC-USDT	+0.0100%	4h	0.1158	+1.224%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1158	+1.198%	$16K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1160	+1.404%	$577K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1160	+1.363%	$87K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1157	+1.175%	$7K	$35K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1158	+1.189%	$580K	$105K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0441% / S −0.0239%	1h	0.1159	+1.326%	$43K	—	50x	as long as short
Lighter CC	+0.1216%	1h	0.1163	+1.687%	$233K	$152K	5x	as long as short