Funding arb · Price arb /

NOT

all NOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Gate−4.338%84s7-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 4.338% cheaper against Gate than usual: you would sell low and buy high (−$434 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 84 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	Gate NOT_USDT	0.0005095	0.0100	pay 0.0050% / 4h	2h 23m	$144K	$81K	50x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	23m 50s	$1K	$13K	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 −4.338%Rate

Funding earned: −$14
Price spread: −4.338% → 0.000%: −$433.76
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: −$462.78
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 37 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, 37 min ago	9.88 bp	39.1 bp −$39	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.

NOT on 15 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
Variational Omni NOT	−0.0216%	4h	0.0005099	+0.072%	$72K	$39K	—	as long as short
Injective NOT/USDC PERPshort	+0.0033%	1h	0.0004874	−4.338%	$1K	$13K	5.5x
KuCoin NOTUSDTM	+0.0046%	4h	0.0005093	−0.039%	$466K	$134K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005103	+0.155%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	+0.098%	$372K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005099	+0.075%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005095	0.000%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005090	−0.098%	$2.1M	$876K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005094	−0.020%	$639K	$663K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0005095	long leg	$144K	$81K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005096	+0.020%	$1.3M	$473K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005098	+0.059%	$672K	$408K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005096	+0.020%	—	$725K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005096	+0.013%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0202%	1h	0.0005097	+0.032%	$50K	$10K	10x	as long as short