Funding arb · Price arb /

NOT

all NOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Bitget−3.581%91s7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.581% cheaper against Bitget than usual: you would sell low and buy high (−$358 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 91 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 NOTUSDT	0.0005055	0.0100	pay 0.0050% / 4h	2h 21m	$664K	$382K	50x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	21m 52s	$1K	$13K	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 −3.581%Rate

Funding earned: −$14
Price spread: −3.581% → 0.000%: −$358.06
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: −$384.08
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 63 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, 63 min ago	2.96 bp	23.8 bp −$24	139.7 bp −$1,397	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.

NOT on 16 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 NOT/USDC PERPshort	+0.0033%	1h	0.0004874	−3.581%	$1K	$13K	5.5x
BloFin NOT-USDT	+0.0069%	4h	0.0005059	+0.079%	$112K	$17K	50x	as long as short
Variational Omni NOT	+0.0074%	4h	0.0005052	−0.053%	$66K	$34K	—	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005063	+0.152%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005050	−0.099%	$369K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005052	−0.055%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005053	−0.034%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005048	−0.138%	$2.1M	$801K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005054	−0.020%	$612K	$580K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005057	+0.040%	$140K	$77K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005051	−0.079%	$1.3M	$490K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005055	0.000%	$492K	$118K	50x	as long as short
Bitget NOTUSDTlong	+0.0100%	4h	0.0005055	long leg	$664K	$382K	50x
BingX NOT-USDT	+0.0100%	4h	0.0005054	−0.020%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005051	−0.073%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.7069%	1h	0.0005082	+0.535%	$49K	$9K	10x	as long as short