Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0121%/8h= −13.2% APRpaid last 24h −0.046%

Price spread now: Injective against Binance−0.775%77s7-day average — · you buy dearer than you sell

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.775% cheaper against Binance than usual: you would sell low and buy high (−$78 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 77 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 COSTUSDT	898.95	0.0154	pay 0.0154% / 8h	5h 27m	$1.1M	$929K	20x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	27m 56s	$2K	$28K	12x

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 −0.775%Rate

Funding earned: −$25.38
Price spread: −0.775% → 0.000%: −$77.53
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: −$112.94
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 5 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, 5 min ago	0.11 bp	5.1 bp −$5	33.8 bp −$338	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.

COST on 15 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
Aster COSTUSDT	0.0000%	8h	898.72	−0.026%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.59	−0.040%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.69	+0.082%	$447K	$109K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.01	+0.007%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.87	−0.009%	$403K	$102K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.30	−0.072%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	901.01	+0.229%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0005%	1h	898.71	−0.027%	$1.1M	$2.9M	10x	as long as short
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−0.775%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	−0.078%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.55	−0.044%	—	—	25x	as long as short
Variational Omni COST	+0.0050%	8h	898.76	−0.022%	$42K	$17K	—	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.59	−0.040%	$1.8M	$515K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.60	−0.039%	$47K	$872K	20x	as long as short
Binance COSTUSDTlong	+0.0154%	8h	898.95	long leg	$1.1M	$929K	20x