Funding arb · Price arb /

GRASS

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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 −0.047%

Price spread now: MEXC against Injective−3.211%100s7-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 MEXC

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

Funding pays, the price is against you. MEXC is 3.211% cheaper against Injective than usual: you would sell low and buy high (spread −3.211% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$321 on $10k: about 5 months of funding at the current rate (+$2 a day). The two prices were read 100 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 GRASS/USDC PERP	0.4267	0.0033	pay 0.0004% / 1h	5m 40s	$7	$23K	5.5x
Short	MEXC GRASS_USDT	0.4130	0.0100	get 0.0050% / 4h	2h 05m	$1.2M	$2.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpOrdersPrice spread, now −3.211%Rate

Funding earned: $14
Price spread: −3.211% → 0.000%: −$321.07
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$311.09
Costs to cover: 0.040%
Break-even: 162.5 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 1 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 MEXC live order book, 1 min ago	1.21 bp	7.4 bp −$7	37.5 bp −$375	106.6 bp −$10.7K	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.

GRASS on 16 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
Reya GRASSRUSDPERP	−0.0111%	1h	0.4135	−3.092%	$621	—	15x	as long as short
Injective GRASS/USDC PERPlong	+0.0033%	1h	0.4267	long leg	$7	$23K	5.5x
Binance GRASSUSDT	+0.0100%	4h	0.4132	−3.164%	$9.8M	$28.6M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4127	−3.279%	$23.0M	$16.4M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4126	−3.304%	$3.1M	$14.8M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4128	−3.258%	$1.1M	$1.6M	50x	as long as short
MEXC GRASS_USDTshort	+0.0100%	4h	0.4130	−3.211%	$1.2M	$2.3M	100x
Bitget GRASSUSDT	+0.0100%	4h	0.4127	−3.283%	$4.8M	$3.1M	75x	as long as short
BingX GRASS-USDT	+0.0100%	4h	0.4129	−3.234%	—	$7.3M	—	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4130	−3.216%	$2.0M	$1.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended GRASS-USD	+0.0104%	1h	0.4130	−3.204%	$205K	$903K	10x	as long as short
KuCoin GRASSUSDTM	+0.0114%	4h	0.4131	−3.187%	$1.2M	$1.6M	50x	as long as short
Aster GRASSUSDT	+0.0450%	4h	0.4134	−3.116%	$63K	$221K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.0642%	1h	0.4131	−3.188%	$147K	$128K	20x	as long as short
Hyperliquid GRASS	+0.1022%	1h	0.4138	−3.014%	$15.6M	$3.9M	3x	as long as short
Lighter GRASS	+0.1840%	1h	0.4150	−2.742%	$811K	$785K	5x	as long as short