Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0307%/8h= +33.6% APRpaid last 24h +1.039%

Price spread now: BloFin against Injective−0.178%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 BloFin

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. BloFin is 0.178% cheaper against Injective than usual: you would sell low and buy high (spread −0.178% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 46 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CC/USDC PERP	0.1180	0.0033	pay 0.0004% / 1h	54m 35s	$402	$3K	5.5x
Short	BloFin CC-USDT	0.1178	0.0340	get 0.0170% / 4h	2h 54m	$600K	$88K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.178%Rate

Funding earned: $64.4
Price spread: −0.178% → 0.000%: −$17.8
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $34.58
Costs to cover: 0.120%
Break-even: 3.2 days

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 17 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 BloFin live order book, 17 min ago	1.67 bp	19.5 bp −$19	57.4 bp −$574	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 18 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	+0.0033%	1h	0.1180	long leg	$402	$3K	5.5x
Paradex CC-USD-PERP	+0.0078%	8h	0.1176	−0.330%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1178	−0.153%	$35K	$27K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1176	−0.356%	$11.1M	$11.9M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1175	−0.407%	$10.9M	$3.7M	25x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1176	−0.347%	$2.5M	$2.8M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1177	−0.237%	$362K	$162K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1176	−0.339%	$1.8M	$344K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1177	−0.237%	$488K	$97K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1175	−0.415%	$910K	$708K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1176	−0.339%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1176	−0.314%	$15K	$18K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1183	+0.226%	$603K	$42K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1186	+0.515%	$83K	$3.2M	10x	as long as short
BloFin CC-USDTshort	+0.0340%	4h	0.1178	−0.178%	$600K	$88K	75x
Hyperliquid CC	+0.0347%	1h	0.1179	−0.076%	$5.6M	$1.3M	3x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0449% / S −0.0241%	1h	0.1178	−0.133%	$44K	—	50x	as long as short
Lighter CC	+0.0976%	1h	0.1181	+0.110%	$252K	$164K	5x	as long as short