Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.008%

Price spread now: Injective against Binance+2.501%47s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance 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

The price spread pays, funding is against you. Injective is 2.501% dearer against Binance than usual: you sell high and buy low (spread +2.501% now, against zero (this spread has no 7-day history yet)): +$250 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. The two prices were read 47 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	Binance XTZUSDT	0.3399	0.0100	pay 0.0050% / 4h	42m 36s	$4.7M	$9.7M	75x
Short	Injective XTZ/USDC PERP	0.3484	0.0033	get 0.0004% / 1h	42m 36s	$62	$17K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +2.501%Rate

Funding earned: −$14
Price spread: +2.501% → 0.000%: $250.07
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $226.05
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	1.47 bp	21.5 bp −$22	71.3 bp −$713	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.

XTZ on 12 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_XTZUSD	−0.0160%	1h	0.3405	+0.179%	$281K	$251K	50x	as long as short
Injective XTZ/USDC PERPshort	+0.0033%	1h	0.3484	+2.501%	$62	$17K	5.5x
Binance XTZUSDTlong	+0.0100%	4h	0.3399	long leg	$4.7M	$9.7M	75x
Bybit XTZUSDT	+0.0100%	4h	0.3402	+0.088%	$2.7M	$2.8M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3401	+0.059%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3406	+0.206%	$631K	$168K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3400	+0.029%	$2.1M	$655K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3407	+0.235%	$625K	$191K	30x	as long as short
Bitget XTZUSDT	+0.0100%	4h	0.3409	+0.294%	$920K	$937K	75x	as long as short
BingX XTZ-USDT	+0.0100%	4h	0.3403	+0.118%	—	$1.1M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XTZ	+0.0100%	4h	0.3405	+0.187%	$86K	$331K	—	as long as short
BloFin XTZ-USDT	+0.0122%	4h	0.3402	+0.088%	$280K	$96K	75x	as long as short