Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Injective against OKX−10.854%68s7-day average — · you buy dearer than you sell

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

Long on OKX 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 10.854% cheaper against OKX than usual: you would sell low and buy high (−$1,085 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	OKX H-USDT-SWAP	0.07011	0.0100	pay 0.0050% / 4h	22m 16s	$1.8M	$5.9M	10x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	22m 16s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −10.854%Rate

Funding earned: −$14
Price spread: −10.854% → 0.000%: −$1,085.44
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,109.46
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 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 OKX live order book, 6 min ago	3.58 bp	26.8 bp −$27	doesn't fit	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	−10.854%	$1K	$1	5.5x
Aster HUSDT	+0.0100%	4h	0.07008	−0.042%	$116K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.07016	+0.071%	$15.1M	$10.5M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.07006	−0.068%	$7.6M	$4.6M	13x	as long as short
OKX H-USDT-SWAPlong	+0.0100%	4h	0.07011	long leg	$1.8M	$5.9M	10x
Gate H_USDT	+0.0100%	4h	0.07003	−0.114%	$2.9M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.07013	+0.029%	$6.3M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.07001	−0.143%	$1.7M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06993	−0.257%	$1.7M	$450K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.07010	−0.014%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06978	−0.468%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06988	−0.332%	$1.2M	$438K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.07008	−0.048%	$11K	$107K	5x	as long as short
BloFin H-USDT	+0.0136%	4h	0.06978	−0.471%	$593K	$117K	25x	as long as short