Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.069%

Price spread now: Bybit against Injective−0.820%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 Bybit

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. Bybit is 0.820% cheaper against Injective than usual: you would sell low and buy high (spread −0.820% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$82 on $10k: about 41 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective EIGEN/USDC PERP	0.2438	0.0033	pay 0.0004% / 1h	55m 27s	$6	$6	5.5x
Short	Bybit EIGENUSDT	0.2418	0.0100	get 0.0050% / 4h	3h 55m	$9.4M	$7.3M	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 −0.820%Rate

Funding earned: $14
Price spread: −0.820% → 0.000%: −$82.03
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.05
Costs to cover: 0.110%
Break-even: 46.5 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	4.15 bp	21.4 bp −$21	56.4 bp −$564	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.

EIGEN on 26 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
dYdX EIGEN-USD	0.0000%	1h	0.2413	−1.042%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2410	−1.153%	—	$41	10x	as long as short
01 Exchange EIGENUSD	+0.0032%	1h	0.2407	−1.272%	$816	$5K	10x	as long as short
Injective EIGEN/USDC PERPlong	+0.0033%	1h	0.2438	long leg	$6	$6	5.5x
Lighter EIGEN	+0.0096%	1h	0.2420	−0.734%	$544K	$499K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2418	−0.820%	$36K	$20K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2422	−0.656%	$4.6M	$1.7M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2414	−0.969%	$45K	$37K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2418	−0.841%	$8.3M	$20.0M	75x	as long as short
Bybit EIGENUSDTshort	+0.0100%	4h	0.2418	−0.820%	$9.4M	$7.3M	50x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2417	−0.861%	$1.6M	$4.8M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2414	−0.984%	$734K	$564K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2416	−0.902%	$8.1M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2415	−0.943%	$2.4M	$10.0M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2418	−0.820%	$1.9M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2417	−0.861%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2408	−1.227%	$215K	$134K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2405	−1.354%	$193K	$2.3M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2404	−1.395%	$35K	$230K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2419	−0.779%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2418	−0.814%	$89K	$637K	10x	as long as short
BloFin EIGEN-USDT	+0.0106%	4h	0.2409	−1.189%	$354K	$115K	75x	as long as short
Kraken Futures PF_EIGENUSD	+0.0108%	1h	0.2411	−1.098%	$164K	$105K	20x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2418	−0.818%	$2K	—	100x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0312%	1h	0.2411	−1.116%	$39K	$253K	50x	as long as short
Reya EIGENRUSDPERP	+0.0518%	1h	0.2419	−0.786%	$844	—	15x	as long as short