Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.013%

Price spread now: Injective against Phemex−1.630%65s7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 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. Injective is 1.630% cheaper against Phemex than usual: you would sell low and buy high (spread −1.630% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$163 on $10k: about 5 months of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour. The two prices were read 65 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	Phemex INTCUSDT	123.35	0	get 0.0000% / 8h	39m 30s	$1.7M	$51K	10x
Short	Injective INTC/USDC PERP	121.34	0.0033	get 0.0004% / 1h	39m 30s	$213	$23K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now −1.630%Rate

Funding earned: $7
Price spread: −1.630% → 0.000%: −$162.95
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$167.97
Costs to cover: 0.120%
Break-even: 175.0 days

Slippage unknown: Phemex: live order book, 4 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 Phemex live order book, 4 min ago	3.24 bp	47.7 bp −$48	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.

INTC on 33 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 INTCUSDT	0.0000%	8h	123.39	+0.029%	$308K	$506K	20x	as long as short
OKX INTC-USDT-SWAP	0.0000%	8h	123.39	+0.032%	$18.7M	$69.3M	25x	as long as short
Gate INTC_USDT	0.0000%	8h	123.38	+0.024%	$9.1M	$32.2M	75x	as long as short
Deribit INTC_USDC-PERPETUAL	0.0000%	1h	123.32	−0.024%	$21K	$178K	10x	as long as short
Phemex INTCUSDTlong	0.0000%	8h	123.35	long leg	$1.7M	$51K	10x
GRVT INTC_USDT_Perp	+0.0016%	8h	123.36	+0.011%	$924K	$1.4M	10x	as long as short
Bybit INTCUSDT	+0.0017%	8h	123.38	+0.024%	$13.4M	$28.9M	50x	as long as short
Lighter RH INTC	+0.0032%	1h	123.33	−0.016%	$597K	$3.0M	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0032%	1h	123.29	−0.049%	$263K	$1.2M	10x	as long as short
Injective INTC/USDC PERPshort	+0.0033%	1h	121.34	−1.630%	$213	$23K	12x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps INTCUSD	+0.0043%	1h	123.37	+0.018%	$2K	$53K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	123.42	+0.057%	—	$1.5M	25x	as long as short
SoDEX INTC-USD	+0.0050%	1h	123.33	−0.012%	$28K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	123.23	−0.097%	$1.3M	$2.3M	10x	as long as short
QFEX INTC-USD	+0.0055%	1h	123.32	−0.024%	$1.9M	$15.2M	10x	as long as short
Variational Omni INTC	+0.0062%	8h	123.32	−0.025%	$2.2M	$2.5M	—	as long as short
Polymarket Perps INTC-USD	+0.0074%	1h	123.35	0.000%	$213K	$450K	10x	as long as short
Nado INTC-PERP	+0.0078%	1h	123.30	−0.043%	$170K	$239K	10x	as long as short
Paradex INTC-USD-PERP	+0.0093%	8h	123.32	−0.021%	—	—	5x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	123.31	−0.032%	$46K	$258K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	123.32	−0.024%	$4K	$3K	10x	as long as short
Binance INTCUSDT	+0.0111%	8h	123.34	−0.007%	$72.1M	$410.1M	25x	as long as short
Extended INTC_24_5-USD	+0.0112%	1h	123.30	−0.039%	$352K	$1.1M	10x	as long as short
Aevo INTC-PERP	+0.0112%	1h	123.34	−0.005%	$50K	—	10x	as long as short
KuCoin INTCUSDTM	+0.0207%	8h	123.40	+0.041%	$1.2M	$57K	20x	as long as short
BloFin INTC-USDT	+0.0234%	8h	123.31	−0.032%	$908K	$309K	25x	as long as short
Bitget INTCUSDT	+0.0243%	8h	123.39	+0.032%	$25.5M	$34.1M	50x	as long as short
tradeXYZ xyz:INTC	+0.0250%	1h	123.37	+0.016%	$146.4M	$79.1M	10x	as long as short
Phoenix INTC	+0.0325%	1h	123.42	+0.057%	$47K	$256K	10x	as long as short
Lighter INTC	+0.0352%	1h	123.38	+0.020%	$1.5M	$1.9M	10x	as long as short
RISEx INTC/USDC	+0.0433%	1h	123.38	+0.025%	$341K	$378K	10x	as long as short
Arcus INTC-USD	+0.0567%	1h	123.34	−0.008%	$108K	$298K	10x	as long as short
edgeX INTCUSDC	+0.0777%	4h	123.32	−0.021%	$87K	$287K	10x	as long as short