Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.012%

Price spread now: MEXC against Injective−1.115%7-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−0.225%−$23 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 −$1 a day on $10k at the current rate, and MEXC is 1.115% cheaper against Injective than usual: you would sell low and buy high (−$112 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective GBPUSD/USDC PERP	1.3504	0.0220	pay 0.0028% / 1h	43m 05s	$11K	$72K	101x
Short	MEXC GBP_USDT	1.3353	0.0170	get 0.0085% / 4h	3h 43m	$26.0M	$252K	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

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 InjectivebpFee MEXCbpOrdersPrice spread, now −1.115%Rate

Funding earned: −$10.5
Price spread: −1.115% → 0.000%: −$111.53
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: −$130.05
Costs to cover: 0.080%
Break-even: never at this rate

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	0.75 bp	4.7 bp −$5	4.7 bp −$47	6.0 bp −$597	33.3 bp −$16.7K

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.

GBP on 13 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
Hibachi GBP/USDT-P	−0.0064%	1h	1.3350	−1.139%	$22K	$45K	20x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3345	−1.177%	$192K	$982K	50x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3379	−0.923%	$223K	$10K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3350	−1.137%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3356	−1.093%	—	$2.3M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3343	−1.187%	$989	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3387	−0.863%	$5K	$336K	20x	as long as short
Nado GBPUSD-PERP	+0.0011%	1h	1.3352	−1.120%	$16K	$1K	40x	as long as short
Vest GBP-USD-PERP	+0.0039%	1h	1.3341	−1.204%	—	$5K	100x	as long as short
tradeXYZ xyz:GBP	+0.0046%	1h	1.3353	−1.115%	$248K	$354K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GBP_USDTshort	+0.0170%	4h	1.3353	−1.115%	$26.0M	$252K	100x
Injective GBPUSD/USDC PERPlong	+0.0220%	1h	1.3504	long leg	$11K	$72K	101x
Bybit GBPUSDUSDT	+0.0478%	8h	1.3372	−0.977%	$270K	$67K	100x	as long as short