Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.083%

Price spread now: Injective against MEXC−7.022%70s7-day average — · you buy dearer than you sell

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

Long on MEXC 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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 7.022% cheaper against MEXC than usual: you would sell low and buy high (−$702 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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	MEXC H_USDT	0.06722	0.0100	pay 0.0050% / 4h	1h 40m	$6.0M	$1.1M	20x
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	40m 12s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −7.022%Rate

Funding earned: −$14
Price spread: −7.022% → 0.000%: −$702.17
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$720.19
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 7 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 MEXC live order book, 7 min ago	3.70 bp	12.5 bp −$13	63.5 bp −$635	134.4 bp −$13.4K	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.

H on 14 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
Injective H/USDC PERPshort	+0.0033%	1h	0.06250	−7.022%	$1K	$1	5.5x
KuCoin HUSDTM	+0.0058%	4h	0.06709	−0.193%	$1.6M	$10.0M	8x	as long as short
Aster HUSDT	+0.0100%	4h	0.06721	−0.010%	$110K	$56K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06721	−0.015%	$14.4M	$11.1M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06710	−0.179%	$7.4M	$4.8M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06726	+0.060%	$1.8M	$6.0M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06712	−0.149%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDTlong	+0.0100%	4h	0.06722	long leg	$6.0M	$1.1M	20x
Bitget HUSDT	+0.0100%	4h	0.06697	−0.372%	$1.7M	$458K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06713	−0.134%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06708	−0.205%	$7K	$9K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06752	+0.448%	$1.1M	$437K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06721	−0.014%	$10K	$101K	5x	as long as short
BloFin H-USDT	+0.0133%	4h	0.06731	+0.134%	$586K	$110K	25x	as long as short