Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.078%

Price spread now: Injective against BloFin−9.381%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 $0 a day on $10k at the current rate, and Injective is 9.381% cheaper against BloFin than usual: you would sell low and buy high (−$938 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	BloFin H-USDT	0.06897	0.0047	pay 0.0024% / 4h	2h 01m	$588K	$113K	25x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	1m 12s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −9.381%Rate

Funding earned: −$2.89
Price spread: −9.381% → 0.000%: −$938.09
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$953
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 20 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 BloFin live order book, 20 min ago	0.71 bp	16.4 bp −$16	72.2 bp −$722	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.

H on 14 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 H/USDC PERPshort	+0.0033%	1h	0.06250	−9.381%	$1K	$1	5.5x
BloFin H-USDTlong	+0.0047%	4h	0.06897	long leg	$588K	$113K	25x
Aster HUSDT	+0.0100%	4h	0.06884	−0.188%	$115K	$48K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06894	−0.043%	$14.8M	$10.4M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06883	−0.206%	$7.5M	$4.5M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06892	−0.072%	$1.7M	$5.7M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06878	−0.275%	$2.8M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06895	−0.029%	$6.2M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06883	−0.203%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06875	−0.319%	$1.7M	$455K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06896	−0.014%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06868	−0.425%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06891	−0.087%	$1.1M	$469K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06894	−0.045%	$11K	$107K	5x	as long as short