Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: Aster against Injective+2.960%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 2.960% dearer against Injective than usual: you sell high and buy low: +$296 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	53m 12s	$3K	$113	5.5x
Short	Aster 1000BONKUSDT	0.000003371	0.0100	get 0.0050% / 4h	53m 12s	$78K	$250K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +2.960%Rate

Funding earned: $14
Price spread: +2.960% → 0.000%: $295.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $301.95
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 3 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 Aster live order book, 3 min ago	8.88 bp	21.1 bp −$21	307.6 bp −$3,076	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.

BONK on 31 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	−0.0320%	1h	0.000003350	+2.321%	$43K	$33K	50x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003371	+2.963%	$2K	$110K	10x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003370	+2.932%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003371	+2.951%	$23	—	150x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$113	5.5x
Orderly PERP_1000BONK_USDC	+0.0069%	4h	0.000003370	+2.932%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003370	+2.945%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0089%	4h	0.000003374	+3.054%	$958K	$15.0M	75x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003374	+3.054%	$223K	$667K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003371	+2.978%	$27K	$96K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003371	+2.960%	$78K	$250K	10x
Pacifica kBONK	+0.0100%	1h	0.000003371	+2.963%	$113K	$104K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003371	+2.949%	$16.2M	$57.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003369	+2.902%	$10.7M	$18.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003373	+3.024%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003369	+2.902%	$813K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	+2.932%	$9.4M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003370	+2.935%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003367	+2.841%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003371	+2.963%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003372	+2.992%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003360	+2.627%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	+3.115%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003373	+3.024%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+2.963%	$95K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003371	+2.951%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003369	+2.902%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−8.369%	$564	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0210%	1h	0.000003374	+3.054%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0914%	1h	0.000003378	+3.177%	$10.0M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2494%	1h	0.000003380	+3.236%	$218K	$174K	50x	as long as short