Funding arb · Price arb /

NOT

all NOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: Binance against Injective+0.566%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 0.566% dearer against Injective than usual: you sell high and buy low: +$57 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 NOT/USDC PERP	0.0004874	0.0033	pay 0.0004% / 1h	29m 15s	$1K	$13K	5.5x
Short	Binance NOTUSDT	0.0004902	0.0100	get 0.0050% / 4h	1h 29m	$2.0M	$2.9M	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 +0.566%Rate

Funding earned: $14
Price spread: +0.566% → 0.000%: $56.63
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: $60.61
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 14 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, 14 min ago	4.01 bp	22.4 bp −$22	124.9 bp −$1,249	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.

NOT on 16 exchanges

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	+0.0026%	4h	0.0004909	+0.725%	$70K	$37K	—	as long as short
Injective NOT/USDC PERPlong	+0.0033%	1h	0.0004874	long leg	$1K	$13K	5.5x
BloFin NOT-USDT	+0.0090%	4h	0.0004918	+0.903%	$108K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0004919	+0.917%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0004910	+0.739%	$325K	$69K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004904	+0.620%	$13K	$3K	5x	as long as short
Binance NOTUSDTshort	+0.0100%	4h	0.0004902	+0.566%	$2.0M	$2.9M	50x
Bybit NOTUSDT	+0.0100%	4h	0.0004902	+0.574%	$2.1M	$814K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004902	+0.574%	$632K	$667K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0004908	+0.698%	$136K	$61K	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0004900	+0.533%	$1.3M	$448K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0004902	+0.574%	$482K	$137K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0004907	+0.677%	$652K	$515K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0004907	+0.677%	—	$736K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0004909	+0.725%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1065%	1h	0.0004937	+1.286%	$48K	$5K	10x	as long as short