Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.030%

Price spread now: OKX against Injective−1.137%108s7-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 OKX

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. OKX is 1.137% cheaper against Injective than usual: you would sell low and buy high (spread −1.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$114 on $10k: about 57 days of funding at the current rate (+$2 a day). The two prices were read 108 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 GALA/USDC PERP	0.002110	0.0033	pay 0.0004% / 1h	3m 34s	$2K	$7K	5.5x
Short	OKX GALA-USDT-SWAP	0.002086	0.0100	get 0.0100% / 8h	1h 03m	$2.2M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OKXbpOrdersPrice spread, now −1.137%Rate

Funding earned: $14
Price spread: −1.137% → 0.000%: −$113.74
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$109.76
Costs to cover: 0.100%
Break-even: 61.9 days

Slippage unknown: Injective: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	2.40 bp	17.7 bp −$18	56.1 bp −$561	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.

GALA on 15 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 GALA/USDC PERPlong	+0.0033%	1h	0.002110	long leg	$2K	$7K	5.5x
Hyperliquid GALA	+0.0100%	1h	0.002087	−1.090%	$309K	$171K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002089	−1.013%	$17K	$10K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002087	−1.083%	$5.4M	$17.6M	75x	as long as short
Bybit GALAUSDT	+0.0100%	8h	0.002087	−1.090%	$6.0M	$6.5M	75x	as long as short
OKX GALA-USDT-SWAPshort	+0.0100%	8h	0.002086	−1.137%	$2.2M	$4.4M	50x
Gate GALA_USDT	+0.0100%	8h	0.002089	−0.995%	$1.8M	$1.2M	75x	as long as short
MEXC GALA_USDT	+0.0100%	8h	0.002088	−1.043%	$5.7M	$3.5M	125x	as long as short
KuCoin GALAUSDTM	+0.0100%	8h	0.002086	−1.137%	$1.8M	$6.3M	75x	as long as short
Bitget GALAUSDT	+0.0100%	8h	0.002087	−1.090%	$2.1M	$1.3M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GALA-USDT	+0.0100%	8h	0.002089	−0.995%	—	$11.4M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002082	−1.317%	$25K	$18K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002088	−1.051%	$3K	$156K	5x	as long as short
BloFin GALA-USDT	+0.0126%	8h	0.002085	−1.185%	$306K	$73K	20x	as long as short
Kraken Futures PF_GALAUSD	+0.0872%	1h	0.002088	−1.027%	$661K	$155K	25x	as long as short