Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0519%/8h= +56.9% APRpaid last 24h −0.539%

Price spread now: Injective against MEXC+0.742%55s7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$16 a day on $10k at the current rate, and Injective is 0.742% dearer against MEXC than usual: you sell high and buy low: +$74 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 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 IO_USDT	0.1483	0.0100	pay 0.0050% / 4h	2h 38m	$1.2M	$234K	125x
Short	Injective IO/USDC PERP	0.1494	0.0619	get 0.0077% / 1h	38m 28s	$2K	$198	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 +0.742%Rate

Funding earned: $109.08
Price spread: +0.742% → 0.000%: $74.17
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: $179.23
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 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, 3 min ago	6.73 bp	23.9 bp −$24	173.6 bp −$1,736	274.1 bp −$27.4K	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.

IO 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
Hyperliquid IO	+0.0100%	1h	0.1485	+0.128%	$990K	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1484	+0.086%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1485	+0.126%	$2.9M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1483	−0.013%	$1.1M	$901K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1482	−0.067%	$230K	$446K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1483	long leg	$1.2M	$234K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1482	−0.067%	$347K	$624K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1486	+0.202%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1483	0.000%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1486	+0.187%	$30K	$16K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IO-USDT	+0.0101%	4h	0.1486	+0.202%	$193K	$38K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1484	+0.040%	$3K	$215K	5x	as long as short
Injective IO/USDC PERPshort	+0.0619%	1h	0.1494	+0.742%	$2K	$198	5.5x
Kraken Futures PF_IOUSD	+2.7539%	1h	0.1486	+0.190%	$38K	$10K	10x	as long as short