Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Gate−0.021%7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.021% cheaper against Gate than usual: you would sell low and buy high (−$2 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	Gate NOT_USDT	0.0004875	0.0100	pay 0.0050% / 4h	50m 35s	$140K	$62K	50x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	50m 35s	$1K	$13K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$14
Price spread: −0.021% → 0.000%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$31.07
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 48 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 Gate live order book, 48 min ago	12.09 bp	41.1 bp −$41	doesn't fit	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 exchanges

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	−0.021%	$1K	$13K	5.5x
Lighter 1000NOT	+0.0096%	1h	0.0004891	+0.324%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0004880	+0.103%	$321K	$74K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004881	+0.117%	$13K	$4K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0004883	+0.158%	$2.0M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0004882	+0.144%	$2.1M	$842K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004882	+0.144%	$632K	$724K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0004875	long leg	$140K	$62K	50x
MEXC NOT_USDT	+0.0100%	4h	0.0004882	+0.144%	$1.3M	$470K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0004878	+0.062%	$500K	$148K	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NOTUSDT	+0.0100%	4h	0.0004884	+0.185%	$642K	$550K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0004879	+0.082%	—	$736K	—	as long as short
Variational Omni NOT	+0.0100%	4h	0.0004877	+0.035%	$69K	$28K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0004881	+0.114%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0106%	4h	0.0004883	+0.164%	$108K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.2679%	1h	0.0004875	−0.007%	$46K	$8K	10x	as long as short