Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.029%

Price spread now: Injective against Gate+9.728%84s7-day average — · you sell dearer than you buy

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

Long on Gate 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 for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 9.728% dearer against Gate than usual: you sell high and buy low: +$973 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 84 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	Gate BX_USDT	126.44	0	get 0.0000% / 8h	1h 49m	$422K	$25K	20x
Short	Injective BX/USDC PERP	138.74	0.0220	get 0.0028% / 1h	49m 43s	$4K	$32K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +9.728%Rate

Funding earned: $46.2
Price spread: +9.728% → 0.000%: $972.79
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,003.97
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 56 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 Gate live order book, 56 min ago	14.64 bp	42.6 bp −$43	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.

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	126.30	−0.111%	$5K	$2K	20x	as long as short
Binance BXUSDT	0.0000%	8h	126.45	+0.005%	$776K	$494K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.46	+0.016%	$482K	$803K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.29	−0.119%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	126.94	+0.395%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDTlong	0.0000%	8h	126.44	long leg	$422K	$25K	20x
Bitget BXUSDT	0.0000%	8h	126.50	+0.047%	$900K	$37K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.43	−0.009%	$43K	$12K	—	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.45	+0.008%	$463	$105K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.44	0.000%	$431	$302K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BX-USDT	0.0000%	8h	126.47	+0.024%	$7K	$4K	20x	as long as short
tradeXYZ xyz:BX	+0.0050%	1h	126.27	−0.134%	$664K	$222K	10x	as long as short
KuCoin BXUSDTM	+0.0100%	8h	126.18	−0.206%	$115K	$823K	20x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	138.74	+9.728%	$4K	$32K	12x