Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.008%

Price spread now: Injective against OKX−1.212%68s7-day average — · you buy dearer than you sell

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

Long on OKX 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

Funding pays, the price is against you. Injective is 1.212% cheaper against OKX than usual: you would sell low and buy high (spread −1.212% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$121 on $10k: about 4 months of funding at the current rate (+$1 a day). The two prices were read 68 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	OKX COST-USDT-SWAP	902.92	0	get 0.0000% / 8h	10m 10s	$443K	$122K	10x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	10m 10s	$2K	$28K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −1.212%Rate

Funding earned: $7
Price spread: −1.212% → 0.000%: −$121.16
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$124.18
Costs to cover: 0.100%
Break-even: 131.2 days

Slippage unknown: OKX: live order book, 25 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 OKX live order book, 25 min ago	2.71 bp	33.4 bp −$33	doesn't fit	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	903.09	+0.019%	$45K	$133	20x	as long as short
Binance COSTUSDT	0.0000%	8h	903.03	+0.012%	$1.1M	$1.0M	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	902.93	+0.001%	$491K	$91K	25x	as long as short
OKX COST-USDT-SWAPlong	0.0000%	8h	902.92	long leg	$443K	$122K	10x
Gate COST_USDT	0.0000%	8h	902.97	+0.006%	$523K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	902.77	−0.017%	$401K	$81K	25x	as long as short
Variational Omni COST	0.0000%	8h	902.92	0.000%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	902.50	−0.047%	$2K	$2.8M	10x	as long as short
HTX COST-USDT	0.0000%	8h	904.61	+0.187%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0004%	1h	902.95	+0.003%	$1.1M	$2.4M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−1.212%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	−0.517%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	902.23	−0.076%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	902.78	−0.016%	$1.8M	$509K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	902.10	−0.091%	$48K	$910K	20x	as long as short