Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: Aster against Injective+9.596%57s7-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 9.596% dearer against Injective than usual: you sell high and buy low: +$960 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	12m 20s	$3K	$113	5.5x
Short	Aster 1000BONKUSDT	0.000003588	0.0100	get 0.0050% / 4h	2h 12m	$60K	$299K	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 +9.596%Rate

Funding earned: $14
Price spread: +9.596% → 0.000%: $959.62
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: $965.6
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 35 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, 35 min ago	12.80 bp	30.0 bp −$30	doesn't fit	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	−0.0136%	1h	0.000003583	+9.438%	$44K	$49K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003591	+9.693%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003585	+9.502%	$25	—	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	0.000003591	+9.680%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0084%	4h	0.000003584	+9.469%	$1.1M	$18.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0099%	4h	0.000003586	+9.530%	$31K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003593	+9.759%	$47K	$115K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003588	+9.596%	$60K	$299K	10x
Pacifica kBONK	+0.0100%	1h	0.000003595	+9.805%	$121K	$125K	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	0.000003588	+9.596%	$18.5M	$73.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003589	+9.615%	$11.9M	$22.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003586	+9.530%	$2.8M	$12.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003589	+9.621%	$964K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003591	+9.682%	$11.5M	$8.3M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003592	+9.713%	$3.1M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003586	+9.530%	$4.6M	$4.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003589	+9.621%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003548	+8.382%	$330K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003534	+7.941%	$60K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003591	+9.682%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003586	+9.530%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003588	+9.591%	$102K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003594	+9.774%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003586	+9.530%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0192%	1h	0.000003598	+9.896%	$251K	$724K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−8.369%	$396	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0587%	1h	0.000003586	+9.530%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1539%	1h	0.000003598	+9.896%	$11.9M	$6.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1630%	1h	0.000003596	+9.835%	$47K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2584%	1h	0.000003599	+9.912%	$221K	$218K	50x	as long as short