Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0440%/8h= −48.2% APRpaid last 24h −0.197%

Price spread now: Injective against Gate−0.112%7-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 7 days−0.979%−$98 on $10k

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 −$13 a day on $10k at the current rate, and Injective is 0.112% cheaper against Gate than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COIN_USDT	195.68	0	get 0.0000% / 8h	1h 26m	$1.2M	$7.4M	50x
Short	Injective COIN/USDC PERP	195.46	−0.0440	pay 0.0055% / 1h	26m 49s	$43K	$48K	30x

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 −0.112%Rate

Funding earned: −$92.4
Price spread: −0.112% → 0.000%: −$11.24
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: −$118.66
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 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, 2 min ago	4.60 bp	12.9 bp −$13	119.5 bp −$1,195	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.

COIN on 26 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
Bitget COINUSDT	−0.0715%	8h	195.78	+0.051%	$6.3M	$10.6M	20x	as long as short
Injective COIN/USDC PERPshort	−0.0440%	1h	195.46	−0.112%	$43K	$48K	30x
Vest COIN-USD-PERP	−0.0103%	1h	194.95	−0.373%	—	$298K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.57	−0.058%	$341K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	195.62	−0.029%	$116K	$790K	10x	as long as short
Binance COINUSDT	0.0000%	8h	195.71	+0.015%	$15.0M	$82.2M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	195.67	−0.005%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	195.68	0.000%	$3.0M	$4.7M	20x	as long as short
Gate COIN_USDTlong	0.0000%	8h	195.68	long leg	$1.2M	$7.4M	50x
Variational Omni COIN	0.0000%	8h	195.44	−0.122%	$709K	$940K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	195.49	−0.098%	$17K	$2.7M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.62	−0.031%	$460K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	195.59	−0.046%	$15K	$54K	5x	as long as short
QFEX COIN-USD	+0.0045%	1h	195.66	−0.010%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	195.55	−0.066%	$15.2M	$13.2M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.54	−0.072%	$129K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	195.66	−0.010%	$77	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.30	−0.194%	$443K	$2.8M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.51	−0.087%	$985K	$136K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.45	−0.118%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	195.66	−0.010%	$566	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	195.65	−0.013%	$115	—	10x	as long as short
Lighter COIN	+0.0120%	1h	195.66	−0.012%	$364K	$2.3M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	195.72	+0.020%	$187K	$424K	20x	as long as short
edgeX COINUSDC	+0.0138%	4h	195.54	−0.071%	$50K	$296K	10x	as long as short
Phoenix COIN	+0.0163%	1h	195.47	−0.107%	$4K	$283K	10x	as long as short