Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Gate against Injective−1.152%54s7-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 Gate

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 −$7 a day on $10k at the current rate, and Gate is 1.152% cheaper against Injective than usual: you would sell low and buy high (−$115 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	Injective HIMS/USDC PERP	29.600	0.0220	pay 0.0028% / 1h	46m 14s	$13K	$22K	5.5x
Short	Gate HIMS_USDT	29.259	0	get 0.0000% / 8h	46m 14s	$505K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.152%Rate

Funding earned: −$46.2
Price spread: −1.152% → 0.000%: −$115.2
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$176.42
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 30 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 Gate live order book, 30 min ago	13.85 bp	28.8 bp −$29	doesn't fit	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.

HIMS on 14 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 HIMSUSDT	0.0000%	8h	29.238	−1.221%	$4K	$2K	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.250	−1.182%	$298K	$118K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.240	−1.216%	$288K	$187K	20x	as long as short
Gate HIMS_USDTshort	0.0000%	8h	29.259	−1.152%	$505K	$205K	25x
Variational Omni HIMS	0.0000%	8h	29.271	−1.110%	$97K	$87K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.283	−1.071%	—	$2.6M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.293	−1.037%	$6K	$38K	10x	as long as short
QFEX HIMS-USD	+0.0002%	1h	29.260	−1.149%	$1.3M	$663K	10x	as long as short
Binance HIMSUSDT	+0.0032%	8h	29.260	−1.149%	$1.0M	$2.7M	20x	as long as short
Vest HIMS-USD-PERP	+0.0046%	1h	29.280	−1.081%	—	—	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:HIMS	+0.0068%	1h	29.263	−1.139%	$3.3M	$1.7M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.240	−1.216%	$136K	$22K	20x	as long as short
Injective HIMS/USDC PERPlong	+0.0220%	1h	29.600	long leg	$13K	$22K	5.5x
Nado HIMS-PERP	+0.0239%	1h	29.250	−1.182%	$2K	$2K	10x	as long as short