Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0033%/8hpaid last 24h +0.010%

Price spread now: Injective against Bybit−0.845%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

Funding pays, the price is against you. Injective is 0.845% cheaper against Bybit than usual: you would sell low and buy high (spread −0.845% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$84 on $10k: about 3 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit COSTUSDT	899.58	0	get 0.0000% / 8h	4h 23m	$472K	$192K	25x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	23m 10s	$2K	$28K	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 −0.845%Rate

Funding earned: $7
Price spread: −0.845% → 0.000%: −$84.48
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: −$88.5
Costs to cover: 0.110%
Break-even: 95.5 days

Slippage unknown: Bybit: live order book, 5 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, 5 min ago	8.73 bp	17.5 bp −$18	59.5 bp −$595	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	899.30	−0.031%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.61	+0.003%	$1.1M	$929K	20x	as long as short
Bybit COSTUSDTlong	0.0000%	8h	899.58	long leg	$472K	$192K	25x
OKX COST-USDT-SWAP	0.0000%	8h	899.28	−0.033%	$432K	$134K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.18	−0.044%	$523K	$26K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.06	−0.058%	$398K	$123K	25x	as long as short
Variational Omni COST	0.0000%	8h	899.28	−0.034%	$44K	$18K	—	as long as short
SunX COST-USDT	0.0000%	8h	898.90	−0.076%	$1K	$3.2M	10x	as long as short
HTX COST-USDT	0.0000%	8h	901.13	+0.172%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0004%	1h	899.48	−0.011%	$1.1M	$2.3M	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	−0.845%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.93	−0.072%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.85	−0.081%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	899.12	−0.051%	$1.8M	$534K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.90	−0.076%	$40K	$928K	20x	as long as short