Funding arb · Price arb /

LINK

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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 −0.014%

Price spread now: Injective against MEXC−3.427%55s7-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 7 days+0.996%+$100 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 −$2 a day on $10k at the current rate, and Injective is 3.427% cheaper against MEXC than usual: you would sell low and buy high (−$343 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.996%, so the current rate has only just turned against you. The two prices were read 55 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	MEXC LINK_USDT	12.840	0.0100	pay 0.0100% / 8h	7h 26m	$35.1M	$59.0M	300x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	26m 10s	$4K	$48K	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 −3.427%Rate

Funding earned: −$14
Price spread: −3.427% → 0.000%: −$342.68
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: −$356.7
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 8 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, 8 min ago	0.39 bp	0.6 bp −$1	4.3 bp −$43	27.6 bp −$2,764	45.3 bp −$22.6K
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.

LINK on 40 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
Orderly PERP_LINK_USDC	−0.0120%	8h	12.836	−0.031%	$90K	$964K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.851	+0.082%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.851	+0.087%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.823	−0.133%	$105K	—	150x	as long as short
Bybit LINKUSDT	+0.0016%	8h	12.836	−0.031%	$83.1M	$72.4M	75x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−3.427%	$4K	$48K	12x
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.845	+0.040%	$6.4M	$8.4M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0069%	1h	12.847	+0.051%	$803K	$268K	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.834	−0.048%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.841	+0.005%	$1.9M	$2.9M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	12.838	−0.018%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.845	+0.039%	$347K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.848	+0.062%	$80.2M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.848	+0.060%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.843	+0.021%	$273K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.840	−0.003%	$118.5M	$295.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.838	−0.016%	$27.0M	$79.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.856	+0.125%	$180K	$100K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.842	+0.016%	$133.2M	$17.7M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.840	long leg	$35.1M	$59.0M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.847	+0.055%	$22.7M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.835	−0.039%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.838	−0.016%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.853	+0.101%	$334K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.832	−0.059%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.834	−0.049%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.831	−0.072%	$575K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.841	+0.008%	$131K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.846	+0.047%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.138%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.858	+0.143%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.847	+0.055%	$10K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.818	−0.172%	$626K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.835	−0.041%	$614K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.841	+0.005%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.856	+0.125%	$924K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.844	+0.031%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.841	+0.012%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0525%	8h	12.859	+0.148%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1401%	1h	12.844	+0.035%	$345K	$49K	10x	as long as short