Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h +0.162%

Price spread now: Orderly against Injective−0.159%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Orderly is 0.159% cheaper against Injective than usual: you would sell low and buy high (spread −0.159% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 24 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective COIN/USDC PERP	195.33	−0.0440	get 0.0055% / 1h	26m 42s	$43K	$48K	30x
Short	Orderly PERP_COIN_USDC_mythos	195.02	0.0100	get 0.0100% / 8h	2h 26m	$564	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.159%Rate

Funding earned: $113.4
Price spread: −0.159% → 0.000%: −$15.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $91.51
Costs to cover: 0.060%
Break-even: 1.4 days

Slippage unknown: Injective: no order-book sample; Orderly: 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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	−0.0838%	8h	195.24	−0.046%	$6.3M	$10.6M	20x	as long as short
Injective COIN/USDC PERPlong	−0.0440%	1h	195.33	long leg	$43K	$48K	30x
Gate COIN_USDT	−0.0136%	8h	195.12	−0.108%	$1.2M	$7.4M	50x	as long as short
Vest COIN-USD-PERP	−0.0113%	1h	194.55	−0.399%	—	$289K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.19	−0.072%	$341K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	195.01	−0.166%	$113K	$852K	10x	as long as short
Binance COINUSDT	0.0000%	8h	195.14	−0.097%	$14.6M	$81.1M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	195.09	−0.123%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	195.05	−0.143%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	195.38	+0.025%	$709K	$962K	—	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	+0.130%	$15K	$2.6M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.01	−0.164%	$455K	$1.5M	10x	as long as short
QFEX COIN-USD	+0.0038%	1h	195.20	−0.067%	$1.3M	$3.0M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	195.41	+0.041%	$15K	$55K	5x	as long as short
edgeX COINUSDC	+0.0040%	4h	195.54	+0.106%	$50K	$294K	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	194.99	−0.174%	$15.1M	$13.8M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.01	−0.164%	$132K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	195.07	−0.133%	$75	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	194.92	−0.210%	$363K	$2.8M	10x	as long as short
Phoenix COIN	+0.0082%	1h	195.57	+0.123%	$4K	$283K	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.02	−0.159%	$983K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.24	−0.046%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythosshort	+0.0100%	8h	195.02	−0.159%	$564	$4K	10x
Lighter COIN	+0.0104%	1h	195.06	−0.137%	$354K	$2.2M	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	194.95	−0.194%	$115	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	195.09	−0.123%	$187K	$417K	20x	as long as short