Funding arb · Price arb /

NOW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: OKX against Injective+0.737%7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

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

The price spread pays, funding is against you. OKX is 0.737% dearer against Injective than usual: you sell high and buy low (spread +0.737% now, against zero (this spread has no 7-day history yet)): +$74 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months.

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	57m 14s	$3K	$101	12x
Short	OKX NOW-USDT-SWAP	140.83	0	get 0.0000% / 8h	6h 57m	$517K	$241K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.737%Rate

Funding earned: −$7
Price spread: +0.737% → 0.000%: $73.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $56.66
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 34 min ago. 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 OKX live order book, 34 min ago	5.32 bp	30.4 bp −$30	doesn't fit	doesn't fit	doesn't fit

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.

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
OKX NOW-USDT-SWAPshort	0.0000%	8h	140.83	+0.737%	$517K	$241K	20x
QFEX NOW-USD	0.0000%	1h	140.68	+0.629%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	140.81	+0.722%	$246K	$340K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.69	+0.637%	$817K	$281K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	140.89	+0.780%	$926	$297K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	140.94	+0.815%	$5K	$37K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.84	+0.744%	$5K	$309	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	140.76	+0.687%	—	—	25x	as long as short
Aster NOWUSDT	+0.0092%	8h	141.19	+0.995%	$42K	$859	20x	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	140.69	+0.637%	$316K	$702K	20x	as long as short
Binance NOWUSDT	+0.0185%	8h	140.89	+0.780%	$1.9M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0201%	8h	140.90	+0.787%	$46K	$19K	20x	as long as short
tradeXYZ xyz:NOW	+0.0276%	1h	140.80	+0.715%	$2.1M	$243K	10x	as long as short
Bybit NOWUSDT	+0.0323%	8h	140.90	+0.787%	$1.6M	$286K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0369%	8h	140.57	+0.551%	$6	$124K	10x	as long as short