Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.029%

Price spread now: Injective against Aster−4.644%97s7-day average — · you buy dearer than you sell

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

Long on Aster 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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.644% cheaper against Aster than usual: you would sell low and buy high (−$464 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 97 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	Aster 1000BONKUSDT	0.000003433	0.0100	pay 0.0050% / 4h	2h 07m	$66K	$254K	10x
Short	Injective BONK/USDC PERP	0.000003274	0.0033	get 0.0004% / 1h	7m 38s	$3K	$113	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −4.644%Rate

Funding earned: −$14
Price spread: −4.644% → 0.000%: −$464.37
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$486.39
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 59 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 Aster live order book, 59 min ago	11.73 bp	46.3 bp −$46	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.

BONK on 30 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
Coinbase International 1000BONK-PERP-INTX	−0.0336%	1h	0.000003420	−0.391%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003429	−0.120%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003432	−0.036%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0013%	4h	0.000003431	−0.071%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERPshort	+0.0033%	1h	0.000003274	−4.644%	$3K	$113	5.5x
Deribit 1000BONK_USDC-PERPETUAL	+0.0041%	1h	0.000003435	+0.045%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003429	−0.117%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003434	+0.016%	$231K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003429	−0.129%	$27K	$113K	10x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003433	long leg	$66K	$254K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003430	−0.100%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003430	−0.094%	$16.1M	$57.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003427	−0.173%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003427	−0.188%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003430	−0.100%	$857K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003430	−0.100%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003430	−0.106%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003430	−0.100%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003427	−0.188%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003432	−0.045%	$312K	$134K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003434	+0.016%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003440	+0.191%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003435	+0.045%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003441	+0.220%	$97K	$150K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003431	−0.079%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003430	−0.100%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.624%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0352%	1h	0.000003436	+0.075%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1022%	1h	0.000003439	+0.162%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2044%	1h	0.000003446	+0.363%	$223K	$173K	50x	as long as short