Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.023%

Price spread now: Injective against BloFin−2.187%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 −$2 a day on $10k at the current rate, and Injective is 2.187% cheaper against BloFin than usual: you would sell low and buy high (−$219 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 NOT-USDT	0.0004983	0.0087	pay 0.0044% / 4h	3h 24m	$108K	$18K	50x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	24m 16s	$1K	$13K	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 −2.187%Rate

Funding earned: −$11.37
Price spread: −2.187% → 0.000%: −$218.74
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: −$242.14
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 31 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, 31 min ago	2.99 bp	20.6 bp −$21	67.1 bp −$671	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	−2.187%	$1K	$13K	5.5x
BloFin NOT-USDTlong	+0.0087%	4h	0.0004983	long leg	$108K	$18K	50x
Lighter 1000NOT	+0.0096%	1h	0.0005031	+0.971%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005020	+0.743%	$338K	$66K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005020	+0.739%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005021	+0.763%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005016	+0.662%	$2.1M	$819K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005024	+0.823%	$643K	$655K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005020	+0.743%	$141K	$59K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005021	+0.763%	$1.4M	$462K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005016	+0.662%	$474K	$132K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005022	+0.783%	$675K	$476K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005021	+0.763%	—	$8.3M	—	as long as short
Variational Omni NOT	+0.0100%	4h	0.0004990	+0.141%	$71K	$38K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005020	+0.733%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1148%	1h	0.0005050	+1.340%	$49K	$5K	10x	as long as short