Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0403%/8h= −44.2% APRpaid last 24h +0.019%

Price spread now: Injective against BloFin+2.376%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. Injective is 2.376% dearer against BloFin than usual: you sell high and buy low (spread +2.376% now, against zero (this spread has no 7-day history yet)): +$238 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AR-USDT	4.5040	0.0050	pay 0.0050% / 8h	6h 47m	$433K	$528K	20x
Short	Injective AR/USDC PERP	4.6110	−0.0353	pay 0.0044% / 1h	47m 58s	$2K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +2.376%Rate

Funding earned: −$84.72
Price spread: +2.376% → 0.000%: $237.57
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $140.82
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 18 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 BloFin live order book, 18 min ago	2.17 bp	8.2 bp −$8	9.7 bp −$97	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.

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	−0.1701%	1h	4.5044	+0.010%	$55K	$149K	20x	as long as short
Injective AR/USDC PERPshort	−0.0353%	1h	4.6110	+2.376%	$2K	$2K	5.5x
OKX AR-USDT-SWAP	−0.0141%	8h	4.4860	−0.400%	$2.3M	$19.3M	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4927	−0.251%	$577K	—	50x	as long as short
MEXC AR_USDT	+0.0012%	8h	4.4870	−0.377%	$6.4M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0015%	8h	4.4916	−0.275%	$8.9M	$53.3M	75x	as long as short
Extended AR-USD	+0.0016%	1h	4.4869	−0.380%	$37K	$243K	10x	as long as short
BloFin AR-USDTlong	+0.0050%	8h	4.5040	long leg	$433K	$528K	20x
Hyperliquid AR	+0.0100%	1h	4.4993	−0.104%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4927	−0.250%	$26K	$500K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.4877	−0.362%	$4.5M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4940	−0.222%	$2.5M	$2.1M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4940	−0.222%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4880	−0.355%	$3.8M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4940	−0.222%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4868	−0.382%	$140K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4890	−0.333%	$22K	$741K	50x	as long as short