Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0483%/8h= +52.9% APRpaid last 24h −0.649%

Price spread now: Injective against Gate+0.378%7-day average — · you sell dearer than you buy

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

Long on Gate 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 for this trade now. Funding pays +$15 a day on $10k at the current rate, and Injective is 0.378% dearer against Gate than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1506	0.0100	pay 0.0050% / 4h	47m 12s	$229K	$546K	50x
Short	Injective IO/USDC PERP	0.1512	0.0583	get 0.0073% / 1h	47m 12s	$2K	$199	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.378%Rate

Funding earned: $101.53
Price spread: +0.378% → 0.000%: $37.84
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $124.35
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 9 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 Gate live order book, 9 min ago	5.28 bp	238.2 bp −$238	17709.0 bp −$177.1K	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.

IO 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
BloFin IO-USDT	+0.0064%	4h	0.1510	+0.246%	$193K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1508	+0.093%	$1.0M	$376K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1508	+0.109%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1506	+0.011%	$2.9M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1505	−0.086%	$1.1M	$912K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1506	long leg	$229K	$546K	50x
MEXC IO_USDT	+0.0100%	4h	0.1504	−0.153%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1506	−0.020%	$359K	$655K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1508	+0.113%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1507	+0.046%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1506	−0.037%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1507	+0.057%	$2K	$134K	5x	as long as short
Injective IO/USDC PERPshort	+0.0583%	1h	0.1512	+0.378%	$2K	$199	5.5x
Kraken Futures PF_IOUSD	+3.7332%	1h	0.1506	−0.029%	$39K	$18K	10x	as long as short