Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.112%

Price spread now: BloFin against Injective−2.366%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 2.366% cheaper against Injective than usual: you would sell low and buy high (spread −2.366% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$237 on $10k: about 16 months of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ALT/USDC PERP	0.007691	0.0033	pay 0.0004% / 1h	2m 50s	$837	$22	5.5x
Short	BloFin ALT-USDT	0.007509	0.0050	get 0.0025% / 4h	1h 02m	$168K	$8K	50x

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

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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 −2.366%Rate

Funding earned: $3.42
Price spread: −2.366% → 0.000%: −$236.64
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: −$245.24
Costs to cover: 0.120%
Break-even: 508.6 days

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 7 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 BloFin live order book, 7 min ago	3.32 bp	18.2 bp −$18	56.1 bp −$561	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.

ALT on 14 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
Kraken Futures PF_ALTUSD	−0.0428%	1h	0.007506	−2.411%	$44K	$8K	10x	as long as short
Deribit ALT_USDC-PERPETUAL	+0.0017%	1h	0.007505	−2.418%	—	$0	25x	as long as short
Injective ALT/USDC PERPlong	+0.0033%	1h	0.007691	long leg	$837	$22	5.5x
BloFin ALT-USDTshort	+0.0050%	4h	0.007509	−2.366%	$168K	$8K	50x
Variational Omni ALT	+0.0098%	4h	0.007523	−2.182%	$4K	$16K	—	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007498	−2.509%	$1.1M	$136K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007500	−2.479%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007500	−2.483%	$1.2M	$1.8M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007494	−2.561%	$49K	$390K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007498	−2.509%	$378K	$171K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ALTUSDTM	+0.0100%	4h	0.007506	−2.405%	$145K	$19K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007496	−2.535%	$607K	$136K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007495	−2.548%	—	$1.3M	—	as long as short
Coinbase International ALT-PERP-INTX	+0.0424%	1h	0.007547	−1.872%	$13K	$2K	50x	as long as short