Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.025%

Price spread now: Injective against MEXC−3.222%7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.222% cheaper against MEXC than usual: you would sell low and buy high (−$322 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	MEXC 1000BONK_USDT	0.000003383	0.0100	pay 0.0050% / 4h	3h 01m	$9.8M	$6.9M	125x
Short	Injective BONK/USDC PERP	0.000003274	0.0033	get 0.0004% / 1h	1m 14s	$3K	$113	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 −3.222%Rate

Funding earned: −$14
Price spread: −3.222% → 0.000%: −$322.2
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$336.22
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 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, 2 min ago	1.47 bp	4.4 bp −$4	10.9 bp −$109	86.1 bp −$8,605	141.9 bp −$71.0K
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.

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	−0.0376%	1h	0.000003378	−0.148%	$43K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003382	−0.030%	$939K	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0030%	4h	0.000003380	−0.089%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003391	+0.249%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003380	−0.089%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003383	+0.006%	$23	—	150x	as long as short
Injective BONK/USDC PERPshort	+0.0033%	1h	0.000003274	−3.222%	$3K	$113	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003388	+0.146%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003386	+0.103%	$65K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003394	+0.325%	$113K	$122K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003381	−0.055%	$15.8M	$54.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003379	−0.118%	$10.6M	$17.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003381	−0.059%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003387	+0.118%	$723K	$2.6M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003383	long leg	$9.8M	$6.9M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003387	+0.118%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003377	−0.177%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003385	+0.059%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003383	−0.003%	$308K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003392	+0.266%	$57K	$709K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003387	+0.133%	$24K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003384	+0.030%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003378	−0.148%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003389	+0.177%	$95K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003378	−0.159%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003378	−0.148%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.321%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0408%	1h	0.000003385	+0.059%	$351K	$476K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0428%	1h	0.000003390	+0.207%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0592%	1h	0.000003394	+0.325%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1471%	1h	0.000003387	+0.121%	$211K	$165K	50x	as long as short