Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.015%

Price spread now: Injective against BingX+3.230%117s7-day average — · you sell dearer than you buy

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

Long on BingX 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 3.230% dearer against BingX than usual: you sell high and buy low (spread +3.230% now, against zero (this spread has no 7-day history yet)): +$323 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. The two prices were read 117 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	BingX XTZ-USDT	0.3375	0.0100	pay 0.0050% / 4h	1h 29m	—	$1.1M	—
Short	Injective XTZ/USDC PERP	0.3484	0.0033	get 0.0004% / 1h	29m 19s	$62	$17K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +3.230%Rate

Funding earned: −$14
Price spread: +3.230% → 0.000%: $322.96
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $298.94
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 8 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 BingX live order book, 8 min ago	4.44 bp	25.4 bp −$25	77.8 bp −$778	792.1 bp −$79.2K	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 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
Bybit XTZUSDT	−0.0371%	4h	0.3373	−0.059%	$2.7M	$2.3M	75x	as long as short
Bitget XTZUSDT	−0.0082%	4h	0.3372	−0.089%	$911K	$749K	75x	as long as short
Variational Omni XTZ	−0.0051%	4h	0.3373	−0.053%	$102K	$272K	—	as long as short
Injective XTZ/USDC PERPshort	+0.0033%	1h	0.3484	+3.230%	$62	$17K	5.5x
BloFin XTZ-USDT	+0.0073%	4h	0.3371	−0.119%	$284K	$95K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3373	−0.059%	$4.7M	$8.4M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3374	−0.030%	$1.2M	$1.1M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3373	−0.059%	$613K	$122K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3373	−0.059%	$2.0M	$739K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3373	−0.059%	$608K	$179K	30x	as long as short

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDTlong	+0.0100%	4h	0.3375	long leg	—	$1.1M	—
Kraken Futures PF_XTZUSD	+0.0138%	1h	0.3376	+0.025%	$273K	$257K	50x	as long as short