Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.030%

Price spread now: Injective against BingX+1.442%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Injective

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

The price spread pays, funding is against you. Injective is 1.442% dearer against BingX than usual: you sell high and buy low (spread +1.442% now, against zero (this spread has no 7-day history yet)): +$144 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX GALA-USDT	0.002080	0.0100	pay 0.0100% / 8h	22m 55s	—	$11.2M	—
Short	Injective GALA/USDC PERP	0.002110	0.0033	get 0.0004% / 1h	22m 55s	$2K	$7K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +1.442%Rate

Funding earned: −$14
Price spread: +1.442% → 0.000%: $144.23
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $120.21
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 15 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 BingX live order book, 15 min ago	7.18 bp	18.1 bp −$18	37.9 bp −$379	313.6 bp −$31.4K	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.

GALA on 15 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 GALA/USDC PERPshort	+0.0033%	1h	0.002110	+1.442%	$2K	$7K	5.5x
BloFin GALA-USDT	+0.0088%	8h	0.002080	0.000%	$306K	$70K	20x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002082	+0.096%	$309K	$171K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002081	+0.059%	$17K	$10K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002082	+0.109%	$5.4M	$17.8M	75x	as long as short
Bybit GALAUSDT	+0.0100%	8h	0.002079	−0.048%	$6.0M	$6.5M	75x	as long as short
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002080	0.000%	$2.2M	$4.4M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002081	+0.048%	$1.7M	$1.2M	75x	as long as short
MEXC GALA_USDT	+0.0100%	8h	0.002081	+0.048%	$5.7M	$3.4M	125x	as long as short
KuCoin GALAUSDTM	+0.0100%	8h	0.002080	0.000%	$1.8M	$6.2M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GALAUSDT	+0.0100%	8h	0.002081	+0.048%	$2.1M	$1.2M	75x	as long as short
BingX GALA-USDTlong	+0.0100%	8h	0.002080	long leg	—	$11.2M	—
Variational Omni GALA	+0.0100%	8h	0.002081	+0.061%	$25K	$21K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002082	+0.106%	$3K	$156K	5x	as long as short
Kraken Futures PF_GALAUSD	+0.0586%	1h	0.002084	+0.184%	$662K	$163K	25x	as long as short