Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1513%/8h= +165.7% APRpaid last 24h +0.519%

Price spread now: Bybit against Injective+0.412%98s7-day average +0.378% · you sell dearer than you buy

Net, funding: paid 7d − costs+$229as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1221.222% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+3.512%+$351 on $10k

Price spread, last 3 days (all we have)−1.497%−$150 · spread now +0.412%, 7d avg +0.378%

Together, before fees+2.014%+$201 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Bybit is 0.034% dearer against Injective than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.378%. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ARB/USDC PERP	0.2232	−0.1675	get 0.0209% / 1h	21m 37s	$40K	$197K	12x
Short	Bybit ARBUSDT	0.2241	−0.0162	pay 0.0162% / 8h	2h 21m	$56.4M	$135.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.412%Rate

Funding earned: $317.72
Price spread: +0.412% → +0.378%: $3.4
Slippage, 4 orders: −$111.2
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $198.89
Costs to cover: 1.222%
Break-even: 2.6 days

Slippage from Injective: live order book, 2 min ago; Bybit: live order book, 2 min ago.

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 live order book, 2 min ago	51.28 bp	51.3 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.22 bp	8.8 bp −$9	20.2 bp −$202	49.7 bp −$4,972	doesn't fit

ARB on 36 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
Injective ARB/USDC PERPlong	−0.1675%	1h	0.2232	long leg	$40K	$197K	12x
01 Exchange ARBUSD	−0.0288%	1h	0.2242	+0.430%	$7K	$2K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0195%	1h	0.2244	+0.551%	$38K	$20K	25x	as long as short
Variational Omni ARB	−0.0169%	8h	0.2250	+0.807%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDTshort	−0.0162%	8h	0.2241	+0.412%	$56.4M	$135.9M	50x
SoDEX ARB-USD	−0.0115%	1h	0.2243	+0.484%	$4K	$2.9M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0096%	8h	0.2240	+0.372%	$22.3M	$165.2M	50x	as long as short
MEXC ARB_USDT	−0.0095%	8h	0.2240	+0.381%	$37.4M	$63.7M	200x	as long as short
Kraken Futures PF_ARBUSD	−0.0053%	1h	0.2245	+0.567%	$1.1M	$5.2M	50x	as long as short
Polymarket Perps ARB-USD	−0.0023%	1h	0.2244	+0.529%	$77K	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0017%	8h	0.2244	+0.538%	$11K	$388K	10x	as long as short
Binance ARBUSDT	−0.0005%	8h	0.2241	+0.426%	$63.8M	$324.7M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2243	+0.488%	$66K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2240	+0.370%	$357K	$2.4M	25x	as long as short
BloFin ARB-USDT	+0.0001%	8h	0.2240	+0.376%	$3.0M	$3.3M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2245	+0.579%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0009%	8h	0.2241	+0.421%	$5.5M	$21.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2244	+0.543%	$147K	$12K	3x	as long as short
BingX ARB-USDC	+0.0085%	8h	0.2239	+0.300%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0087%	8h	0.2240	+0.358%	$21.0M	$38.4M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2243	+0.493%	$1.3M	$7.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2244	+0.551%	$40.1M	$52.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2242	+0.457%	$697K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2243	+0.479%	$47K	$200K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2242	+0.444%	$20.7M	$17.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2250	+0.796%	$40K	$454K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2250	+0.807%	$485K	$4.1M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2251	+0.851%	$122K	$297K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2244	+0.538%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2243	+0.475%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2241	+0.403%	$5.3M	$13.7M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0154% / S −0.0018%	1h	0.2245	+0.601%	$851K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2244	+0.538%	$500K	$2.5M	50x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2243	+0.507%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0546%	1h	0.2243	+0.509%	$493K	$2.9M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0562%	1h	0.2246	+0.609%	$1.1M	$2.7M	20x	as long as short