Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Gate−5.175%7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.175% cheaper against Gate than usual: you would sell low and buy high (−$518 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	Gate LAYER_USDT	0.07671	0.0100	pay 0.0050% / 4h	1h 42m	$141K	$40K	20x
Short	Injective LAYER/USDC PERP	0.07274	0.0033	get 0.0004% / 1h	42m 56s	—	$18K	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 −5.175%Rate

Funding earned: −$14
Price spread: −5.175% → 0.000%: −$517.53
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: −$546.55
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 58 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, 58 min ago	13.14 bp	96.2 bp −$96	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.

LAYER on 13 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
Kraken Futures PF_LAYERUSD	−0.0275%	1h	0.07674	+0.037%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERPshort	+0.0033%	1h	0.07274	−5.175%	—	$18K	5.5x
BloFin LAYER-USDT	+0.0075%	4h	0.07667	−0.052%	$113K	$15K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07680	+0.117%	$591K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07670	−0.010%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07670	−0.008%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07666	−0.065%	$717K	$667K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07671	long leg	$141K	$40K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07671	0.000%	$372K	$130K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07668	−0.039%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07672	+0.013%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07660	−0.143%	$16K	$194K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07669	−0.029%	$1K	$221K	5x	as long as short