Funding arb · Price arb /

NOW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h −0.019%

Price spread now: BloFin against Injective−1.252%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 BloFin

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. BloFin is 1.252% cheaper against Injective than usual: you would sell low and buy high (spread −1.252% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$125 on $10k: about 26 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	36m 30s	$3K	$101	12x
Short	BloFin NOW-USDT	138.05	0.0195	get 0.0195% / 8h	4h 36m	$46K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −1.252%Rate

Funding earned: $34.05
Price spread: −1.252% → 0.000%: −$125.18
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$103.15
Costs to cover: 0.120%
Break-even: 28.2 days

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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.

NOW on 16 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 NOW-USD	0.0000%	1h	137.81	−1.423%	$1.1M	$1.7M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	138.28	−1.087%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.00	−1.288%	$492K	$227K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.95	−1.323%	$248K	$351K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.92	−1.345%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.98	−1.302%	$530	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.07	−1.237%	$5K	$32K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.91	−1.352%	$5K	$178	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.83	−1.409%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.79	−1.438%	$317K	$618K	20x	as long as short
Binance NOWUSDT	+0.0188%	8h	138.00	−1.290%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDTshort	+0.0195%	8h	138.05	−1.252%	$46K	$17K	20x
Bybit NOWUSDT	+0.0261%	8h	138.07	−1.237%	$1.6M	$4.3M	25x	as long as short
tradeXYZ xyz:NOW	+0.0278%	1h	137.88	−1.373%	$2.1M	$226K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0452%	8h	138.02	−1.274%	$552	$149K	10x	as long as short