Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1529%/8h= −167.4% APRpaid last 24h −0.458%

Price spread now: Injective against OKX−0.309%98s7-day average −0.376% · you buy dearer than you sell

Net, funding: paid 7d − costs−$457as 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−$1211.209% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.364%−$336 on $10k

Price spread, last 4 days (all we have)+0.189%+$19 · spread now −0.309%, 7d avg −0.376%

Together, before fees−3.175%−$318 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.067% dearer against OKX than usual: you sell high and buy low (spread −0.309% now, against its 7-day average of −0.376%): +$7 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 4 hours. 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	OKX ARB-USDT-SWAP	0.2172	−0.0084	get 0.0084% / 8h	19m 35s	$21.7M	$143.9M	50x
Short	Injective ARB/USDC PERP	0.2165	−0.1612	pay 0.0202% / 1h	19m 35s	$39K	$372K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −0.309%Rate

Funding earned: −$321.03
Price spread: −0.309% → −0.376%: $6.75
Slippage, 4 orders: −$110.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$435.18
Costs to cover: 1.209%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Injective: live order book, 20 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 OKX live order book, 4 min ago	0.23 bp	7.4 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit
Sell Injective live order book, 20 min ago	52.62 bp	52.6 bp −$53	doesn't fit	doesn't fit	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 PERPshort	−0.1612%	1h	0.2165	−0.309%	$39K	$372K	12x
01 Exchange ARBUSD	−0.0200%	1h	0.2175	+0.170%	$7K	$236	10x	as long as short
OKX ARB-USDT-SWAPlong	−0.0084%	8h	0.2172	long leg	$21.7M	$143.9M	50x
MEXC ARB_USDT	−0.0083%	8h	0.2172	+0.014%	$41.6M	$62.6M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0044%	8h	0.2172	+0.014%	$13K	$404K	10x	as long as short
SoDEX ARB-USD	−0.0016%	1h	0.2172	+0.018%	$9K	$2.2M	5x	as long as short
Polymarket Perps ARB-USD	−0.0011%	1h	0.2172	+0.032%	$76K	$2.1M	10x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2171	−0.017%	$347K	$3.1M	25x	as long as short
Binance ARBUSDT	−0.0006%	8h	0.2173	+0.044%	$62.3M	$301.2M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2173	+0.072%	$64K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2173	+0.060%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0007%	1h	0.2174	+0.084%	$69K	—	150x	as long as short
Variational Omni ARB	+0.0011%	8h	0.2172	−0.001%	$1.8M	$3.0M	—	as long as short
Bybit ARBUSDT	+0.0017%	8h	0.2172	+0.023%	$53.1M	$126.1M	50x	as long as short
Gate ARB_USDT	+0.0017%	8h	0.2172	+0.028%	$5.3M	$18.4M	60x	as long as short
RISEx ARB/USDC	+0.0069%	1h	0.2174	+0.118%	$500K	$2.7M	10x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2173	+0.050%	$138K	$7K	3x	as long as short
BingX ARB-USDC	+0.0084%	8h	0.2173	+0.046%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0085%	8h	0.2172	+0.014%	$21.0M	$34.5M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0093%	1h	0.2173	+0.082%	$1.1M	$4.4M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2172	+0.009%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2173	+0.083%	$36.6M	$49.5M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2174	+0.099%	$622K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2173	+0.076%	$42K	$147K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2173	+0.051%	$19.3M	$14.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2175	+0.141%	$38K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2175	+0.175%	$467K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2177	+0.244%	$118K	$278K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2175	+0.152%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2173	+0.064%	$291K	$841K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2172	+0.014%	$4.8M	$12.7M	50x	as long as short
BloFin ARB-USDT	+0.0113%	8h	0.2172	+0.023%	$3.0M	$2.3M	75x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2173	+0.056%	$820K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2171	−0.023%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2177	+0.258%	$511K	$1.5M	50x	as long as short
Backpack ARB_USDC_PERP	+0.0486%	1h	0.2175	+0.166%	$976K	$2.9M	20x	as long as short