Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.047%

Price spread now: Injective against Bybit−6.127%7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 6.127% cheaper against Bybit than usual: you would sell low and buy high (−$613 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GRASSUSDT	0.4546	0.0100	pay 0.0050% / 4h	3h 48m	$26.3M	$21.4M	25x
Short	Injective GRASS/USDC PERP	0.4267	0.0033	get 0.0004% / 1h	48m 44s	$7	$23K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now −6.127%Rate

Funding earned: −$14
Price spread: −6.127% → 0.000%: −$612.69
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$637.71
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	3.30 bp	25.4 bp −$25	49.3 bp −$493	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.

GRASS 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
Reya GRASSRUSDPERP	−0.0107%	1h	0.4551	+0.118%	$684	—	15x	as long as short
Injective GRASS/USDC PERPshort	+0.0033%	1h	0.4267	−6.127%	$7	$23K	5.5x
Binance GRASSUSDT	+0.0100%	4h	0.4551	+0.119%	$10.8M	$39.3M	75x	as long as short
Bybit GRASSUSDTlong	+0.0100%	4h	0.4546	long leg	$26.3M	$21.4M	25x
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4545	−0.011%	$3.6M	$23.4M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4548	+0.055%	$1.3M	$2.0M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4552	+0.143%	$1.9M	$3.1M	100x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4549	+0.077%	$1.5M	$2.1M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4547	+0.040%	$5.3M	$4.1M	75x	as long as short
BingX GRASS-USDT	+0.0100%	4h	0.4547	+0.033%	—	$7.5M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GRASS	+0.0100%	4h	0.4563	+0.390%	$2.3M	$1.4M	—	as long as short
Extended GRASS-USD	+0.0104%	1h	0.4549	+0.078%	$225K	$1.3M	10x	as long as short
BloFin GRASS-USDT	+0.0128%	4h	0.4560	+0.319%	$568K	$418K	20x	as long as short
Hyperliquid GRASS	+0.0399%	1h	0.4554	+0.189%	$17.3M	$4.7M	3x	as long as short
Aster GRASSUSDT	+0.0499%	4h	0.4547	+0.033%	$62K	$335K	10x	as long as short
Lighter GRASS	+0.1032%	1h	0.4568	+0.491%	$885K	$1.0M	5x	as long as short
Kraken Futures PF_GRASSUSD	+0.1114%	1h	0.4556	+0.239%	$164K	$162K	20x	as long as short