Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h 0.000%

Price spread now: MEXC against Injective−1.416%7-day average +0.269% · 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+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+2.479%+$248 · spread now −1.416%, 7d avg +0.269%

Together, before fees+2.494%+$249 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 1.685% cheaper against Injective than usual: you would sell low and buy high (spread −1.416% now, against its 7-day average of +0.269%). If the spread goes back, that is −$169 on $10k: about 3 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.015% in total) that is about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ADA/USDC PERP	0.2471	0.0033	pay 0.0004% / 1h	55m 13s	$849	$202K	12x
Short	MEXC ADA_USDT	0.2436	0.0100	get 0.0100% / 8h	1h 55m	$51.6M	$64.4M	300x

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 −1.416%Rate

Funding earned: $14
Price spread: −1.416% → +0.269%: −$168.53
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$154.55
Costs to cover: 0.000%
Break-even: 84.3 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 4 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, 4 min ago	2.04 bp	2.0 bp −$2	2.6 bp −$26	15.0 bp −$1,503	49.6 bp −$24.8K

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.

ADA on 37 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
Kalshi KXADAPERP	0.0000%	8h	0.2438	−1.335%	$185K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2436	−1.436%	$83K	—	150x	as long as short
Phoenix ADA	+0.0032%	1h	0.2439	−1.283%	$4K	$111K	10x	as long as short
Injective ADA/USDC PERPlong	+0.0033%	1h	0.2471	long leg	$849	$202K	12x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	−1.416%	$6K	$6K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2437	−1.376%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	−1.365%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2438	−1.326%	$102.7M	$410.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2437	−1.376%	$72.0M	$124.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2438	−1.335%	$32.4M	$118.1M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2435	−1.457%	$99.5M	$64.0M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2436	−1.416%	$51.6M	$64.4M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	−1.420%	$29.2M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	−1.416%	$66.2M	$53.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2436	−1.416%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2435	−1.453%	$136K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2435	−1.454%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	−1.046%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	−1.179%	$287K	$4.0M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	−1.445%	$129K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	−1.377%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	−1.379%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2437	−1.364%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	−1.382%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2438	−1.335%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	−1.421%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2438	−1.342%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2437	−1.376%	$376K	$8.6M	50x	as long as short
Lighter ADA	+0.0136%	1h	0.2438	−1.327%	$2.4M	$1.0M	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2437	−1.366%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	−1.255%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0271%	1h	0.2438	−1.319%	$42.8M	$18.3M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2436	−1.415%	$1K	—	15x	as long as short
dYdX ADA-USD	+0.0431%	1h	0.2436	−1.416%	$200K	$2K	10x	as long as short
ApeX Omni ADAUSDT	+0.0499%	1h	0.2443	−1.133%	$82K	$890K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0728%	1h	0.2435	−1.457%	$163K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0653%	1h	0.2438	−1.340%	$620K	$613K	50x	as long as short