Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0427%/8h= −46.8% APRpaid last 24h +0.010%

Price spread now: Injective against Bybit−0.007%58s7-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 7 days+0.279%+$28 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.279%, so the current rate has only just turned against you. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.279% in total (about 14.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1467	0.0461	pay 0.0461% / 8h	6h 54m	$606K	$325K	100x
Short	Injective EURUSD/USDC PERP	1.1466	0.0033	get 0.0004% / 1h	54m 27s	$9K	$78K	101x

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 −0.007%Rate

Funding earned: −$89.75
Price spread: −0.007% → 0.000%: −$0.7
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: −$101.46
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 31 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, 31 min ago	0.04 bp	6.1 bp −$6	44.3 bp −$443	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.

EUR on 18 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
MEXC EUR_USDT	−0.0140%	4h	1.1450	−0.150%	$6.8M	$140K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0140%	1h	1.1447	−0.176%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0006%	1h	1.1452	−0.134%	$191K	$301K	40x	as long as short
Lighter EURUSD	0.0000%	1h	1.1456	−0.094%	$2.1M	$512K	50x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1459	−0.072%	$144K	$3K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1448	−0.167%	$246K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1456	−0.098%	—	$2.0M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1460	−0.063%	$12K	$274K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1448	−0.168%	$6.8M	$1.4M	100x	as long as short
Injective EURUSD/USDC PERPshort	+0.0033%	1h	1.1466	−0.007%	$9K	$78K	101x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest EUR-USD-PERP	+0.0046%	1h	1.1481	+0.116%	—	$225K	100x	as long as short
Bitget EURUSDUSDT	+0.0071%	8h	1.1470	+0.024%	$263K	$27K	100x	as long as short
tradeXYZ xyz:EUR	+0.0083%	1h	1.1454	−0.115%	$23.1M	$1.9M	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1448	−0.164%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1457	−0.093%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0136%	1h	1.1454	−0.115%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0448%	1h	1.1459	−0.069%	$159K	$8.4M	30x	as long as short
Bybit EURUSDUSDTlong	+0.0461%	8h	1.1467	long leg	$606K	$325K	100x