Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h −0.078%

Price spread now: Injective against BloFin−9.734%7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Injective is 9.734% cheaper against BloFin than usual: you would sell low and buy high (−$973 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin H-USDT	0.06924	0.0060	pay 0.0030% / 4h	1h 50m	$591K	$114K	25x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	50m 06s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −9.734%Rate

Funding earned: −$5.63
Price spread: −9.734% → 0.000%: −$973.43
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$991.08
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 36 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 BloFin live order book, 36 min ago	7.97 bp	28.7 bp −$29	119.8 bp −$1,198	doesn't fit	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.

H on 14 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 H/USDC PERPshort	+0.0033%	1h	0.06250	−9.734%	$1K	$1	5.5x
BloFin H-USDTlong	+0.0060%	4h	0.06924	long leg	$591K	$114K	25x
Aster HUSDT	+0.0100%	4h	0.06930	+0.082%	$113K	$57K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06936	+0.180%	$14.8M	$11.2M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06923	−0.014%	$7.6M	$5.0M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06939	+0.217%	$1.8M	$6.6M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06922	−0.029%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06940	+0.231%	$6.2M	$1.2M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06929	+0.072%	$1.6M	$10.1M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06934	+0.144%	$1.7M	$451K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06924	0.000%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06908	−0.226%	$9K	$7K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06936	+0.174%	$1.2M	$451K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06938	+0.204%	$14K	$95K	5x	as long as short