Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Injective against Aster−3.319%7-day average — · you buy dearer than you sell

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

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.319% cheaper against Aster than usual: you would sell low and buy high (−$332 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	Aster 1000BONKUSDT	0.000003386	0.0100	pay 0.0050% / 4h	42m 48s	$65K	$251K	10x
Short	Injective BONK/USDC PERP	0.000003274	0.0033	get 0.0004% / 1h	42m 48s	$3K	$113	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −3.319%Rate

Funding earned: −$14
Price spread: −3.319% → 0.000%: −$331.86
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$353.88
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 34 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 Aster live order book, 34 min ago	10.39 bp	26.5 bp −$26	doesn't fit	doesn't fit	doesn't fit
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	−0.0456%	1h	0.000003342	−1.311%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003386	−0.011%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0080%	4h	0.000003391	+0.136%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003391	+0.133%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003395	+0.241%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003388	+0.048%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERPshort	+0.0033%	1h	0.000003274	−3.319%	$3K	$113	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003393	+0.183%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003388	+0.048%	$189K	$299K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003392	+0.181%	$20K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003386	long leg	$65K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003394	+0.225%	$115K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003387	+0.029%	$15.4M	$52.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003383	−0.091%	$10.3M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003387	+0.018%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003386	−0.011%	$734K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003386	−0.011%	$9.8M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003386	−0.005%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003385	−0.041%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003384	−0.070%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003408	+0.641%	$306K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003408	+0.638%	$58K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003392	+0.166%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003388	+0.048%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003401	+0.432%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003388	+0.045%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	+0.048%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.410%	$567	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0200%	1h	0.000003390	+0.107%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1298%	1h	0.000003395	+0.255%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1444%	1h	0.000003393	+0.183%	$207K	$150K	50x	as long as short