Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: Aster against Injective+7.430%77s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 7.430% dearer against Injective than usual: you sell high and buy low: +$743 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 77 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 BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	0m 07s	$3K	$113	5.5x
Short	Aster 1000BONKUSDT	0.000003517	0.0100	get 0.0050% / 4h	3h 00m	$48K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +7.430%Rate

Funding earned: $14
Price spread: +7.430% → 0.000%: $743.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $749.02
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 32 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 Aster live order book, 32 min ago	7.24 bp	17.8 bp −$18	212.0 bp −$2,120	doesn't fit	doesn't fit

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.

BONK on 31 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
Coinbase International 1000BONK-PERP-INTX	−0.0024%	1h	0.000003510	+7.208%	$47K	$94K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003513	+7.315%	$24	—	150x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$113	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003520	+7.509%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003514	+7.346%	$65K	$142K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003517	+7.430%	$48K	$292K	10x
Pacifica kBONK	+0.0100%	1h	0.000003517	+7.422%	$117K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003517	+7.435%	$18.1M	$91.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003517	+7.425%	$12.5M	$27.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003517	+7.422%	$3.1M	$15.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003513	+7.300%	$931K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003516	+7.392%	$11.4M	$10.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003516	+7.392%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003513	+7.300%	$4.5M	$5.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003517	+7.422%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003517	+7.418%	$343K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003488	+6.536%	$59K	$697K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003516	+7.392%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003522	+7.575%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003515	+7.361%	$3K	$8K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003516	+7.392%	$100K	$136K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003514	+7.331%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003514	+7.330%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0114%	4h	0.000003523	+7.605%	$1.1M	$20.2M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−8.369%	$538	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003517	+7.422%	$247K	$776K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0319%	1h	0.000003517	+7.422%	$24K	$162K	10x	as long as short
dYdX BONK-USD	+0.0565%	1h	0.000003516	+7.402%	$14K	$10K	10x	as long as short
Hyperliquid kBONK	+0.0592%	1h	0.000003521	+7.544%	$12.0M	$8.5M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1633%	1h	0.000003520	+7.514%	$54K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2953%	1h	0.000003516	+7.394%	$179K	$272K	50x	as long as short