Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h +0.075%

Price spread now: Injective against OKX−0.061%58s7-day average +1.858% · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−2.473%−$247 · spread now −0.061%, 7d avg +1.858%

Together, before fees−2.363%−$236 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.919% cheaper against OKX than usual: you would sell low and buy high (−$192 if the spread goes back to its 7-day average of +1.858%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.109%, so the current rate has only just turned against you. 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	OKX FIL-USDT-SWAP	0.9861	0.0098	pay 0.0098% / 8h	36m 24s	$17.7M	$107.3M	50x
Short	Injective FIL/USDC PERP	0.9855	0.0033	get 0.0004% / 1h	36m 24s	$2K	$240K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −0.061%Rate

Funding earned: −$13.65
Price spread: −0.061% → +1.858%: −$191.93
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$215.59
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Injective: no order-book sample. 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 OKX live order book, 3 min ago	0.50 bp	8.1 bp −$8	15.5 bp −$155	97.1 bp −$9,713	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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.

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0762%	1h	0.9876	+0.152%	$170K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0176%	1h	0.9902	+0.416%	$350K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9864	+0.034%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9873	+0.122%	$58K	$1K	10x	as long as short
Injective FIL/USDC PERPshort	+0.0033%	1h	0.9855	−0.061%	$2K	$240K	12x
KuCoin FILUSDTM	+0.0071%	8h	0.9861	0.000%	$7.0M	$7.8M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9866	+0.050%	$144K	$358K	5x	as long as short
OKX FIL-USDT-SWAPlong	+0.0098%	8h	0.9861	long leg	$17.7M	$107.3M	50x
Hyperliquid FIL	+0.0100%	1h	0.9865	+0.035%	$8.3M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9866	+0.055%	$503K	$557K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9861	0.000%	$55.6M	$184.2M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9858	−0.030%	$15.4M	$20.4M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9860	−0.010%	$8.2M	$16.6M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9855	−0.061%	$228K	$99K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9856	−0.051%	$11.1M	$19.4M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9857	−0.041%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9925	+0.645%	$442K	$283K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9900	+0.400%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9904	+0.436%	$288K	$1.4M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9930	+0.700%	$27K	$184K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9867	+0.060%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9870	+0.091%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9869	+0.081%	$474	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9876	+0.152%	$610K	$5.5M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9860	−0.010%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9858	−0.030%	$693K	$4.2M	10x	as long as short
Kraken Futures PF_FILUSD	+0.0198%	1h	0.9875	+0.140%	$1.3M	$2.1M	50x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9876	+0.152%	$2.6M	$668K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0600% / S −0.0280%	1h	0.9864	+0.030%	$264K	—	100x	as long as short