Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against OKX−3.121%7-day average — · you buy dearer than you sell

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

Long on OKX 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 3.121% cheaper against OKX than usual: you would sell low and buy high (−$312 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	OKX NOT-USDT-SWAP	0.0005031	0.0100	pay 0.0050% / 4h	1h 58m	$609K	$575K	20x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	58m 37s	$1K	$13K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −3.121%Rate

Funding earned: −$14
Price spread: −3.121% → 0.000%: −$312.07
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$336.09
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 22 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 OKX live order book, 22 min ago	1.97 bp	21.9 bp −$22	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 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
Variational Omni NOT	−0.0156%	4h	0.0005022	−0.182%	$66K	$34K	—	as long as short
Injective NOT/USDC PERPshort	+0.0033%	1h	0.0004874	−3.121%	$1K	$13K	5.5x
BloFin NOT-USDT	+0.0083%	4h	0.0005030	−0.020%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005043	+0.244%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005030	−0.020%	$368K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005037	+0.121%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005035	+0.070%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005028	−0.060%	$2.1M	$803K	25x	as long as short
OKX NOT-USDT-SWAPlong	+0.0100%	4h	0.0005031	long leg	$609K	$575K	20x
Gate NOT_USDT	+0.0100%	4h	0.0005040	+0.179%	$140K	$78K	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	0.0005035	+0.080%	$1.3M	$454K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005029	−0.040%	$491K	$119K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005036	+0.099%	$662K	$383K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005032	+0.020%	—	$720K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005033	+0.048%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.6163%	1h	0.0005072	+0.807%	$48K	$9K	10x	as long as short