Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: Binance against Injective+6.228%7-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 6.228% dearer against Injective than usual: you sell high and buy low: +$623 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	Injective LAYER/USDC PERP	0.07274	0.0033	pay 0.0004% / 1h	1m 14s	—	$18K	5.5x
Short	Binance LAYERUSDT	0.07727	0.0100	get 0.0050% / 4h	1m 14s	$2.1M	$2.6M	50x

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 +6.228%Rate

Funding earned: $14
Price spread: +6.228% → 0.000%: $622.77
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: $626.75
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 4 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, 4 min ago	1.30 bp	28.9 bp −$29	99.7 bp −$997	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.

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	−0.0506%	1h	0.07731	+6.276%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERPlong	+0.0033%	1h	0.07274	long leg	—	$18K	5.5x
Hyperliquid LAYER	+0.0100%	1h	0.07743	+6.442%	$600K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07721	+6.144%	$10K	$4K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07727	+6.228%	$2.1M	$2.6M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07716	+6.076%	$722K	$737K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07729	+6.255%	$139K	$47K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07726	+6.214%	$366K	$122K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07731	+6.283%	$1.1M	$138K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07729	+6.255%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07720	+6.131%	$17K	$193K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07725	+6.197%	$839	$169K	5x	as long as short
BloFin LAYER-USDT	+0.0145%	4h	0.07721	+6.145%	$115K	$16K	50x	as long as short