Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.039%

Price spread now: Injective against Binance−6.169%117s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

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 6.169% cheaper against Binance than usual: you would sell low and buy high (−$617 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 117 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	Binance RUNEUSDT	0.6560	0.0100	pay 0.0100% / 8h	7h 29m	$5.2M	$12.7M	75x
Short	Injective RUNE/USDC PERP	0.6155	0.0033	get 0.0004% / 1h	29m 29s	$7	$14	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −6.169%Rate

Funding earned: −$14
Price spread: −6.169% → 0.000%: −$616.86
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$640.88
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 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 Binance live order book, 11 min ago	0.76 bp	18.2 bp −$18	65.0 bp −$650	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.

RUNE 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
Deribit RUNE_USDC-PERPETUAL	−0.0206%	1h	0.6581	+0.326%	—	—	10x	as long as short
Injective RUNE/USDC PERPshort	+0.0033%	1h	0.6155	−6.169%	$7	$14	12x
Coinbase International RUNE-PERP-INTX	+0.0056%	1h	0.6622	+0.951%	$39K	$32K	25x	as long as short
BloFin RUNE-USDT	+0.0089%	8h	0.6604	+0.676%	$482K	$188K	75x	as long as short
Binance RUNEUSDTlong	+0.0100%	8h	0.6560	long leg	$5.2M	$12.7M	75x
Bybit RUNEUSDT	+0.0100%	8h	0.6559	−0.010%	$2.9M	$2.1M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6575	+0.234%	$665K	$347K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6558	−0.025%	$3.5M	$2.5M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6570	+0.158%	$926K	$239K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6567	+0.112%	$1.6M	$633K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RUNE-USDT	+0.0100%	8h	0.6563	+0.051%	—	$59.0M	—	as long as short
Variational Omni RUNE	+0.0100%	8h	0.6599	+0.607%	$130K	$7K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6563	+0.059%	$4K	$167K	10x	as long as short
dYdX RUNE-USD	+0.0504%	1h	0.6580	+0.317%	$56K	$5K	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.0596%	1h	0.6590	+0.466%	$195K	$239K	20x	as long as short
Hyperliquid RUNE	+0.1006%	1h	0.6577	+0.268%	$1.8M	$970K	5x	as long as short