Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0566%/8h= +61.9% APRpaid last 24h +0.013%

Price spread now: Injective against Binance+1.274%7-day average — · you sell dearer than you buy

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

Long on Binance 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

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Injective is 1.274% dearer against Binance than usual: you sell high and buy low: +$127 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ARUSDT	4.3683	0.0100	pay 0.0100% / 8h	2h 55m	$8.5M	$50.3M	75x
Short	Injective AR/USDC PERP	4.4240	0.0666	get 0.0083% / 1h	55m 02s	$2K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +1.274%Rate

Funding earned: $118.8
Price spread: +1.274% → 0.000%: $127.42
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $236.2
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 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 Binance live order book, 2 min ago	2.29 bp	14.9 bp −$15	61.7 bp −$617	469.9 bp −$47.0K	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.

AR on 17 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_ARUSD	−0.0883%	1h	4.3625	−0.135%	$59K	$143K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.3629	−0.125%	$561K	—	50x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3685	+0.003%	$30K	$458K	10x	as long as short
Binance ARUSDTlong	+0.0100%	8h	4.3683	long leg	$8.5M	$50.3M	75x
Bybit ARUSDT	+0.0100%	8h	4.3670	−0.031%	$4.4M	$8.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3680	−0.008%	$2.2M	$17.2M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3680	−0.008%	$2.4M	$1.8M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3650	−0.076%	$6.0M	$4.1M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.3650	−0.076%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3630	−0.122%	$3.8M	$5.2M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.3680	−0.008%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3677	−0.014%	$242K	$424K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3750	+0.153%	$19K	$710K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3607	−0.175%	$36K	$248K	10x	as long as short
Hyperliquid AR	+0.0149%	1h	4.3733	+0.114%	$3.7M	$4.4M	5x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3670	−0.031%	$415K	$469K	20x	as long as short
Injective AR/USDC PERPshort	+0.0666%	1h	4.4240	+1.274%	$2K	$5K	5.5x