Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.022%

Price spread now: BloFin against Injective+4.637%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

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 +$1 a day on $10k at the current rate, and BloFin is 4.637% dearer against Injective than usual: you sell high and buy low: +$464 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOT/USDC PERP	0.0004874	0.0033	pay 0.0004% / 1h	28m 53s	$1K	$13K	5.5x
Short	BloFin NOT-USDT	0.0005100	0.0070	get 0.0035% / 4h	3h 28m	$112K	$17K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +4.637%Rate

Funding earned: $7.61
Price spread: +4.637% → 0.000%: $463.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $459.27
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 26 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 26 min ago	3.93 bp	16.1 bp −$16	51.0 bp −$510	doesn't fit	doesn't fit

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
Kraken Futures PF_NOTUSD	−0.0332%	1h	0.0005098	+4.590%	$50K	$10K	10x	as long as short
Variational Omni NOT	−0.0151%	4h	0.0005090	+4.436%	$72K	$39K	—	as long as short
Injective NOT/USDC PERPlong	+0.0033%	1h	0.0004874	long leg	$1K	$13K	5.5x
BloFin NOT-USDTshort	+0.0070%	4h	0.0005100	+4.637%	$112K	$17K	50x
Lighter 1000NOT	+0.0096%	1h	0.0005110	+4.846%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	+4.637%	$373K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005099	+4.620%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005102	+4.678%	$2.1M	$3.2M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005095	+4.534%	$2.1M	$823K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005104	+4.719%	$634K	$607K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005093	+4.493%	$142K	$79K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005102	+4.678%	$1.4M	$464K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005091	+4.452%	$465K	$136K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005104	+4.719%	$670K	$391K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005102	+4.678%	—	$722K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005098	+4.590%	$4K	$491	5x	as long as short