Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0615%/8h= −67.4% APRpaid last 24h −0.064%

Price spread now: Injective against BloFin+0.459%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.236%−$24 on $10k

Price spread, last 4 days (all we have)−0.386%−$39 · spread now +0.459%, 7d avg +0.088%

Together, before fees−0.622%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.371% dearer against BloFin than usual: you sell high and buy low (spread +0.459% now, against its 7-day average of +0.088%): +$37 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 4 days (−0.236% in total) that is about 6.9 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.236% in total (about -19.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TIA-USDT	0.4354	0.0340	pay 0.0170% / 4h	1h 49m	$1.5M	$707K	75x
Short	Injective TIA/USDC PERP	0.4374	−0.0275	pay 0.0034% / 1h	49m 00s	$83K	$165K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.459%Rate

Funding earned: −$129.23
Price spread: +0.459% → +0.088%: $37.14
Slippage, 4 orders: −$78.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$182.44
Costs to cover: 0.904%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Injective: live order book, 62 min ago.

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 BloFin live order book, 2 min ago	2.29 bp	13.8 bp −$14	25.0 bp −$250	82.2 bp −$8,218	doesn't fit
Sell Injective live order book, 62 min ago	15.89 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit

TIA on 27 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
GMX TIA/USD [ETH-USDC]	L −0.5414% / S +0.0229%	1h	0.4366	+0.287%	$5K	—	100x	as long as short
Injective TIA/USDC PERPshort	−0.0275%	1h	0.4374	+0.459%	$83K	$165K	12x
Bybit TIAUSDT	−0.0273%	4h	0.4355	+0.023%	$9.6M	$14.4M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	−0.0209%	1h	0.4358	+0.092%	$32K	$20K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4374	+0.448%	$1K	—	150x	as long as short
dYdX TIA-USD	+0.0037%	1h	0.4361	+0.158%	$52K	$139	10x	as long as short
Backpack TIA_USDC_PERP	+0.0062%	1h	0.4357	+0.071%	$101K	$176K	10x	as long as short
Variational Omni TIA	+0.0078%	4h	0.4355	+0.032%	$101K	$100K	—	as long as short
Kraken Futures PF_TIAUSD	+0.0083%	1h	0.4361	+0.155%	$364K	$222K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4362	+0.175%	$153K	$471K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TIA_USDC	+0.0097%	4h	0.4355	+0.023%	$6K	$185K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4363	+0.207%	$4.6M	$1.7M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4360	+0.139%	$31K	$238K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4357	+0.071%	$14.0M	$48.6M	75x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4356	+0.046%	$2.7M	$6.7M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4359	+0.115%	$999K	$1.7M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4358	+0.092%	$10.5M	$14.4M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4357	+0.069%	$4.2M	$10.5M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4353	−0.023%	$4.4M	$4.2M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4356	+0.046%	—	$14.6M	—	as long as short
ApeX Omni TIAUSDT	+0.0100%	1h	0.4363	+0.207%	$50K	$218K	50x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4359	+0.115%	$58K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4355	+0.013%	$55K	$210K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4356	+0.046%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4356	+0.046%	$6K	—	15x	as long as short
BloFin TIA-USDTlong	+0.0340%	4h	0.4354	long leg	$1.5M	$707K	75x
Coinbase International TIA-PERP-INTX	+0.0400%	1h	0.4407	+1.217%	$53K	$109K	50x	as long as short