Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1182%/8h= −129.4% APRpaid last 24h −0.059%

Price spread now: Injective against Binance+9.429%7-day average — · you sell dearer than you buy

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 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

The price spread pays, funding is against you. Injective is 9.429% dearer against Binance than usual: you sell high and buy low (spread +9.429% now, against zero (this spread has no 7-day history yet)): +$943 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BXUSDT	126.63	0.1402	pay 0.1402% / 8h	44m 50s	$804K	$457K	20x
Short	Injective BX/USDC PERP	138.57	0.0220	get 0.0028% / 1h	44m 50s	$4K	$32K	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 +9.429%Rate

Funding earned: −$248.16
Price spread: +9.429% → 0.000%: $942.9
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: $684.73
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 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, 2 min ago	1.18 bp	17.3 bp −$17	120.4 bp −$1,204	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.

BX on 14 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
Aster BXUSDT	0.0000%	8h	126.42	−0.167%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.70	+0.055%	$497K	$858K	25x	as long as short
QFEX BX-USD	0.0000%	1h	130.45	+3.017%	$1.1M	$1.3M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.71	+0.063%	$426K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.74	+0.087%	$904K	$44K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.63	0.000%	$855	$303K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.66	+0.024%	$7K	$3K	20x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	138.57	+9.429%	$4K	$32K	12x
OKX BX-USDT-SWAP	+0.0244%	8h	126.58	−0.039%	$163K	$108K	20x	as long as short
tradeXYZ xyz:BX	+0.0462%	1h	126.48	−0.118%	$663K	$180K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.1034%	8h	126.56	−0.055%	$113K	$1.1M	20x	as long as short
Variational Omni BX	+0.1076%	8h	126.56	−0.056%	$31K	$127	—	as long as short
Binance BXUSDTlong	+0.1402%	8h	126.63	long leg	$804K	$457K	20x
GRVT BX_USDT_Perp	+0.2156%	8h	126.56	−0.055%	$611	$122K	10x	as long as short