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 +0.146%

Price spread now: OKX against Injective−0.118%7-day average — · you buy dearer than you sell

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.865%+$87 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.118% cheaper against Injective than usual: you would sell low and buy high (spread −0.118% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 21 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective COIN/USDC PERP	195.45	−0.0440	get 0.0055% / 1h	39m 25s	$43K	$48K	30x
Short	OKX COIN-USDT-SWAP	195.22	0	get 0.0000% / 8h	1h 39m	$3.0M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $92.4
Price spread: −0.118% → 0.000%: −$11.77
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $70.61
Costs to cover: 0.100%
Break-even: 1.7 days

Slippage unknown: Injective: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	2.81 bp	14.3 bp −$14	22.9 bp −$229	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.

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	−0.0694%	8h	195.44	−0.005%	$6.3M	$10.7M	20x	as long as short
Injective COIN/USDC PERPlong	−0.0440%	1h	195.45	long leg	$43K	$48K	30x
Vest COIN-USD-PERP	−0.0102%	1h	194.73	−0.368%	—	$289K	25x	as long as short
Gate COIN_USDT	−0.0012%	8h	195.30	−0.077%	$1.2M	$7.4M	50x	as long as short
Aster COINUSDT	0.0000%	8h	195.45	−0.001%	$341K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	195.26	−0.098%	$112K	$807K	10x	as long as short
Binance COINUSDT	0.0000%	8h	195.28	−0.087%	$15.0M	$82.3M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	195.22	−0.118%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAPshort	0.0000%	8h	195.22	−0.118%	$3.0M	$4.7M	20x
Variational Omni COIN	0.0000%	8h	195.45	0.000%	$708K	$959K	—	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	195.58	+0.067%	$16K	$2.7M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.23	−0.113%	$459K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	195.57	+0.061%	$15K	$54K	5x	as long as short
QFEX COIN-USD	+0.0045%	1h	195.28	−0.087%	$1.3M	$3.0M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.20	−0.128%	$129K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	195.27	−0.092%	$76	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.03	−0.215%	$447K	$2.8M	10x	as long as short
tradeXYZ xyz:COIN	+0.0082%	1h	195.19	−0.133%	$15.1M	$13.2M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.19	−0.133%	$984K	$137K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.32	−0.067%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	195.24	−0.107%	$565	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	195.28	−0.088%	$115	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	195.50	+0.026%	$188K	$423K	20x	as long as short
Lighter COIN	+0.0128%	1h	195.22	−0.119%	$361K	$2.3M	10x	as long as short
Phoenix COIN	+0.0163%	1h	195.44	−0.005%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0209%	4h	195.50	+0.028%	$50K	$294K	10x	as long as short