Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.061%

Price spread now: Injective against Bybit−0.994%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 −$7 a day on $10k at the current rate, and Injective is 0.994% cheaper against Bybit than usual: you would sell low and buy high (−$99 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	Bybit BXUSDT	126.77	0	get 0.0000% / 8h	3h 31m	$503K	$925K	25x
Short	Injective BX/USDC PERP	125.51	−0.0220	pay 0.0028% / 1h	31m 01s	$2K	$26K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now −0.994%Rate

Funding earned: −$46.2
Price spread: −0.994% → 0.000%: −$99.39
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$156.61
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 14 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 Bybit live order book, 14 min ago	3.55 bp	154.5 bp −$154	256.2 bp −$2,562	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
Injective BX/USDC PERPshort	−0.0220%	1h	125.51	−0.994%	$2K	$26K	12x
QFEX BX-USD	0.0000%	1h	125.73	−0.820%	$1.1M	$1.1M	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.61	−0.128%	$5K	$2K	20x	as long as short
Binance BXUSDT	0.0000%	8h	126.78	+0.005%	$806K	$442K	20x	as long as short
Bybit BXUSDTlong	0.0000%	8h	126.77	long leg	$503K	$925K	25x
OKX BX-USDT-SWAP	0.0000%	8h	126.60	−0.134%	$159K	$102K	20x	as long as short
Gate BX_USDT	0.0000%	8h	126.78	+0.008%	$425K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.70	−0.055%	$904K	$50K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.79	+0.017%	$31K	$127	—	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.77	+0.001%	$852	$130K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BX-USDT	0.0000%	8h	126.78	+0.008%	$1K	$301K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.80	+0.024%	$7K	$3K	20x	as long as short
KuCoin BXUSDTM	+0.0100%	8h	126.67	−0.079%	$108K	$1.2M	20x	as long as short
tradeXYZ xyz:BX	+0.0660%	1h	126.60	−0.134%	$668K	$166K	10x	as long as short