Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.016%

Price spread now: Injective against MEXC+4.193%7-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 7 days+0.020%+$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 4.193% dearer against MEXC than usual: you sell high and buy low (spread +4.193% now, against zero (this spread has no 7-day history yet)): +$419 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03935	0.0100	pay 0.0050% / 4h	54m 56s	$3.6M	$1.9M	200x
Short	Injective S/USDC PERP	0.04100	0.0033	get 0.0004% / 1h	54m 56s	$2K	$37K	12x

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 +4.193%Rate

Funding earned: −$14
Price spread: +4.193% → 0.000%: $419.31
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: $401.29
Costs to cover: 0.040%
Break-even: from the start

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	1.28 bp	4.5 bp −$5	50.7 bp −$507	265.2 bp −$26.5K	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.

S on 25 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
01 Exchange SUSD	−0.6896%	1h	0.03850	−2.160%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2117%	1h	0.03940	+0.134%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.770%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	−0.052%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0199% / S +0.0192%	1h	0.03938	+0.071%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03939	+0.108%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03938	+0.085%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0032%	4h	0.03937	+0.051%	$100K	$342K	10x	as long as short
Injective S/USDC PERPshort	+0.0033%	1h	0.04100	+4.193%	$2K	$37K	12x
Lighter S	+0.0096%	1h	0.03941	+0.152%	$165K	$217K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03934	−0.013%	$986K	$714K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03939	+0.113%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	−0.019%	$5.4M	$17.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	−0.152%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03934	−0.025%	$981K	$5.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03934	−0.025%	$321K	$258K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03935	long leg	$3.6M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03934	−0.025%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03938	+0.076%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03934	−0.025%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03940	+0.127%	$117K	$304K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.127%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03932	−0.076%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03944	+0.229%	$266K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0512%	1h	0.03941	+0.152%	$66K	$10K	10x	as long as short