Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h −0.587%

Price spread now: Injective against Bitget+0.401%61s7-day average — · you sell dearer than you buy

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

Long on Bitget 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Injective is 0.401% dearer against Bitget than usual: you sell high and buy low: +$40 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 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	Bitget IOUSDT	0.1496	0.0100	pay 0.0050% / 4h	3h 00m	$1.4M	$1.3M	50x
Short	Injective IO/USDC PERP	0.1502	0.0193	get 0.0024% / 1h	0m 14s	$2K	$201	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +0.401%Rate

Funding earned: $19.44
Price spread: +0.401% → 0.000%: $40.11
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $47.52
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.34 bp	38.7 bp −$39	275.0 bp −$2,750	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.

IO 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
BloFin IO-USDT	+0.0085%	4h	0.1492	−0.267%	$193K	$38K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1493	−0.201%	$997K	$364K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1493	−0.188%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1493	−0.233%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1491	−0.321%	$1.1M	$901K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1491	−0.341%	$227K	$560K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1492	−0.267%	$1.2M	$233K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1493	−0.201%	$352K	$623K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1496	long leg	$1.4M	$1.3M	50x
BingX IO-USDT	+0.0100%	4h	0.1491	−0.334%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1490	−0.418%	$30K	$16K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1492	−0.260%	$1K	$215K	5x	as long as short
Injective IO/USDC PERPshort	+0.0193%	1h	0.1502	+0.401%	$2K	$201	5.5x
Kraken Futures PF_IOUSD	+1.6790%	1h	0.1496	−0.011%	$39K	$10K	10x	as long as short