Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.061%

Price spread now: Injective against SunX−0.206%61s7-day average — · you buy dearer than you sell

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

Long on SunX 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

Funding pays, the price is against you. Injective is 0.206% cheaper against SunX than usual: you would sell low and buy high (spread −0.206% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 3.1 days of funding at the current rate (+$7 a day). The two prices were read 61 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	SunX BX-USDT	126.49	0	get 0.0000% / 8h	1h 47m	$913	$301K	10x
Short	Injective BX/USDC PERP	126.23	0.0220	get 0.0028% / 1h	47m 51s	$1K	$27K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −0.206%Rate

Funding earned: $46.2
Price spread: −0.206% → 0.000%: −$20.55
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $17.63
Costs to cover: 0.080%
Break-even: 4.3 days

Slippage unknown: SunX: live order book, 23 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 SunX live order book, 23 min ago	47.45 bp	92.0 bp −$92	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
QFEX BX-USD	−0.0080%	1h	126.63	+0.111%	$1.1M	$1.2M	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.21	−0.218%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.47	−0.016%	$500K	$855K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.37	−0.095%	$159K	$101K	20x	as long as short
Gate BX_USDT	0.0000%	8h	126.42	−0.055%	$425K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.53	+0.032%	$903K	$47K	20x	as long as short
SunX BX-USDTlong	0.0000%	8h	126.49	long leg	$913	$301K	10x
HTX BX-USDT	0.0000%	8h	126.56	+0.055%	$7K	$3K	20x	as long as short
Injective BX/USDC PERPshort	+0.0220%	1h	126.23	−0.206%	$1K	$27K	12x
Variational Omni BX	+0.0513%	8h	126.46	−0.020%	$31K	$127	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0524%	8h	126.50	+0.008%	$112K	$1.2M	20x	as long as short
tradeXYZ xyz:BX	+0.0600%	1h	126.37	−0.095%	$663K	$177K	10x	as long as short
Binance BXUSDT	+0.0797%	8h	126.47	−0.016%	$804K	$455K	20x	as long as short
GRVT BX_USDT_Perp	+0.1662%	8h	126.45	−0.030%	$1K	$127K	10x	as long as short