Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h +0.050%

Price spread now: Bitget against Injective−8.729%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bitget

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 Bitget is 8.729% cheaper against Injective than usual: you would sell low and buy high (−$873 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	Injective BX/USDC PERP	138.73	0.0220	pay 0.0028% / 1h	29m 05s	$4K	$32K	12x
Short	Bitget BXUSDT	126.62	0	get 0.0000% / 8h	7h 29m	$899K	$39K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −8.729%Rate

Funding earned: −$46.2
Price spread: −8.729% → 0.000%: −$872.92
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$931.14
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 42 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 42 min ago	4.74 bp	60.6 bp −$61	73.8 bp −$738	doesn't fit	doesn't fit

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	126.43	−8.865%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.59	−8.751%	$488K	$866K	25x	as long as short
QFEX BX-USD	0.0000%	1h	127.02	−8.441%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.70	−8.672%	$425K	$27K	20x	as long as short
Bitget BXUSDTshort	0.0000%	8h	126.62	−8.729%	$899K	$39K	20x
SunX BX-USDT	0.0000%	8h	126.58	−8.758%	$934	$311K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.69	−8.679%	$7K	$3K	20x	as long as short
Injective BX/USDC PERPlong	+0.0220%	1h	138.73	long leg	$4K	$32K	12x
OKX BX-USDT-SWAP	+0.0251%	8h	126.60	−8.744%	$164K	$111K	20x	as long as short
tradeXYZ xyz:BX	+0.0557%	1h	126.51	−8.808%	$665K	$207K	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	+0.1138%	8h	126.45	−8.852%	$111K	$1.1M	20x	as long as short
Variational Omni BX	+0.1319%	8h	126.58	−8.758%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1692%	8h	126.58	−8.758%	$796K	$483K	20x	as long as short
GRVT BX_USDT_Perp	+0.2185%	8h	126.63	−8.722%	$322	$120K	10x	as long as short