Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: HTX against Injective+6.872%65s7-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 HTX

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 6.872% dearer against Injective than usual: you sell high and buy low: +$687 more if the spread goes back to zero (this spread has no 7-day history yet). 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	Injective BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	53m 23s	$3K	$113	5.5x
Short	HTX BONK-USDT	0.000003499	0.0100	get 0.0050% / 4h	2h 53m	$99K	$130K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +6.872%Rate

Funding earned: $14
Price spread: +6.872% → 0.000%: $687.23
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $689.21
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; HTX: live order book, 58 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 HTX live order book, 58 min ago	90.93 bp	99.7 bp −$100	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.

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	−0.0136%	1h	0.000003477	+6.200%	$43K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003490	+6.610%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003489	+6.570%	$24	—	150x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$113	5.5x
Deribit 1000BONK_USDC-PERPETUAL	+0.0037%	1h	0.000003489	+6.567%	$9K	$134K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003489	+6.565%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0084%	4h	0.000003489	+6.567%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003488	+6.552%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003495	+6.755%	$58K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003492	+6.659%	$116K	$120K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003491	+6.642%	$17.7M	$69.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003487	+6.506%	$11.5M	$21.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003491	+6.628%	$2.7M	$11.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003490	+6.597%	$912K	$3.0M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003489	+6.567%	$9.7M	$8.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003490	+6.607%	$3.0M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003486	+6.475%	$4.5M	$3.8M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003490	+6.597%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003504	+7.022%	$325K	$141K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003495	+6.750%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003490	+6.597%	$2K	$7K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003499	+6.872%	$99K	$130K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003490	+6.584%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003487	+6.506%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0112%	1h	0.000003497	+6.811%	$247K	$703K	10x	as long as short
BloFin 1000BONK-USDT	+0.0117%	4h	0.000003487	+6.506%	$1.0M	$17.3M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−8.369%	$385	—	100x	as long as short
Hyperliquid kBONK	+0.1584%	1h	0.000003499	+6.872%	$11.5M	$6.1M	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.1592%	1h	0.000003512	+7.269%	$59K	$705K	25x	as long as short
Backpack kBONK_USDC_PERP	+0.1784%	1h	0.000003495	+6.750%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2658%	1h	0.000003498	+6.844%	$215K	$218K	50x	as long as short