Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bitget−0.751%61s7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.751% cheaper against Bitget than usual: you would sell low and buy high (spread −0.751% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$75 on $10k: about 3 months of funding at the current rate (+$1 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	Bitget COSTUSDT	898.73	0	get 0.0000% / 8h	3h 32m	$398K	$125K	25x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	32m 11s	$2K	$28K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now −0.751%Rate

Funding earned: $7
Price spread: −0.751% → 0.000%: −$75.11
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$80.13
Costs to cover: 0.120%
Break-even: 87.1 days

Slippage unknown: Bitget: live order book, 12 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 Bitget live order book, 12 min ago	2.73 bp	19.1 bp −$19	31.4 bp −$314	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.

COST on 15 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 COSTUSDT	0.0000%	8h	898.00	−0.081%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.09	+0.040%	$1.1M	$962K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	899.07	+0.038%	$472K	$192K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.38	+0.072%	$431K	$135K	10x	as long as short
Gate COST_USDT	0.0000%	8h	898.77	+0.004%	$523K	$26K	25x	as long as short
Bitget COSTUSDTlong	0.0000%	8h	898.73	long leg	$398K	$125K	25x
Variational Omni COST	0.0000%	8h	898.95	+0.024%	$44K	$18K	—	as long as short
SunX COST-USDT	0.0000%	8h	897.90	−0.092%	$1K	$3.3M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.55	+0.203%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0019%	1h	899.22	+0.055%	$1.1M	$2.4M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−0.751%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.00	−0.081%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.48	−0.028%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.48	−0.028%	$1.8M	$536K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.30	−0.048%	$41K	$896K	20x	as long as short