Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0205%/8h= −22.5% APRpaid last 24h −0.064%

Price spread now: MEXC against Injective−0.030%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 7 days−0.400%−$40 on $10k

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 −$6 a day on $10k at the current rate, and MEXC is 0.030% cheaper against Injective than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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 EURUSD/USDC PERP	1.1466	0.0033	pay 0.0004% / 1h	29m 47s	$9K	$78K	101x
Short	MEXC EUR_USDT	1.1463	−0.0172	pay 0.0086% / 4h	29m 47s	$6.8M	$147K	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 −0.030%Rate

Funding earned: −$43.12
Price spread: −0.030% → 0.000%: −$2.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$54.11
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 6 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, 6 min ago	0.44 bp	4.4 bp −$4	4.8 bp −$48	32.8 bp −$3,280	123.2 bp −$61.6K

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.

EUR on 17 exchanges

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
MEXC EUR_USDTshort	−0.0172%	4h	1.1463	−0.030%	$6.8M	$147K	100x
Kraken Futures PF_EURUSD	−0.0112%	1h	1.1458	−0.074%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0017%	1h	1.1464	−0.018%	$191K	$293K	40x	as long as short
Lighter EURUSD	0.0000%	1h	1.1471	+0.043%	$2.1M	$501K	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1481	+0.124%	$625K	$352K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1470	+0.031%	$144K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1472	+0.049%	$261K	$27K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1460	−0.056%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1466	−0.003%	—	$1.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1469	+0.023%	$12K	$270K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1460	−0.053%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERPlong	+0.0033%	1h	1.1466	long leg	$9K	$78K	101x
Vest EUR-USD-PERP	+0.0046%	1h	1.1492	+0.225%	—	$190K	100x	as long as short
tradeXYZ xyz:EUR	+0.0074%	1h	1.1467	+0.005%	$22.9M	$1.7M	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1462	−0.042%	$196K	$57K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1466	−0.003%	$12K	—	10x	as long as short
Hibachi EUR/USDT-P	+0.0168%	1h	1.1463	−0.026%	$181K	$8.5M	30x	as long as short