Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.083%

Price spread now: Binance against Injective+10.544%67s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 10.544% dearer against Injective than usual: you sell high and buy low: +$1,054 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 67 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 H/USDC PERP	0.06250	0.0033	pay 0.0004% / 1h	38m 15s	$1K	$1	5.5x
Short	Binance HUSDT	0.06909	0.0100	get 0.0050% / 4h	38m 15s	$14.7M	$11.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +10.544%Rate

Funding earned: $14
Price spread: +10.544% → 0.000%: $1,054.4
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $1,058.38
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 2 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 Binance live order book, 2 min ago	0.72 bp	37.6 bp −$38	238.8 bp −$2,388	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.

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 PERPlong	+0.0033%	1h	0.06250	long leg	$1K	$1	5.5x
BloFin H-USDT	+0.0050%	4h	0.06900	+10.400%	$593K	$112K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06913	+10.607%	$112K	$59K	5x	as long as short
Binance HUSDTshort	+0.0100%	4h	0.06909	+10.544%	$14.7M	$11.0M	10x
Bybit HUSDT	+0.0100%	4h	0.06901	+10.416%	$7.6M	$5.0M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06915	+10.640%	$1.8M	$6.5M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06901	+10.416%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06910	+10.560%	$6.2M	$1.2M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06912	+10.592%	$1.6M	$10.2M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06912	+10.592%	$1.7M	$441K	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	0.06912	+10.592%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06896	+10.330%	$9K	$6K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06905	+10.477%	$1.1M	$475K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06907	+10.510%	$11K	$200K	5x	as long as short