Funding arb · Price arb /

DYM

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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 −0.020%

Price spread now: Injective against MEXC−7.085%100s7-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 7.085% cheaper against MEXC than usual: you would sell low and buy high (−$708 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 100 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 DYM_USDT	0.01849	0.0100	pay 0.0050% / 4h	3h 33m	$1.2M	$654K	20x
Short	Injective DYM/USDC PERP	0.01718	0.0033	get 0.0004% / 1h	33m 42s	$237	$12K	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 −7.085%Rate

Funding earned: −$14
Price spread: −7.085% → 0.000%: −$708.49
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$726.51
Costs to cover: 0.040%
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	2.70 bp	12.8 bp −$13	80.7 bp −$807	193.7 bp −$19.4K	460.9 bp −$230.4K
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.

DYM on 14 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
dYdX DYM-USD	0.0000%	1h	0.01846	−0.178%	$253	$5	5x	as long as short
Injective DYM/USDC PERPshort	+0.0033%	1h	0.01718	−7.085%	$237	$12K	5.5x
Hyperliquid DYM	+0.0100%	1h	0.01849	0.000%	$370K	$250K	3x	as long as short
Aster DYMUSDT	+0.0100%	4h	0.01847	−0.115%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01849	0.000%	$2.4M	$4.6M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01846	−0.162%	$785K	$422K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01850	+0.054%	$147K	$110K	25x	as long as short
MEXC DYM_USDTlong	+0.0100%	4h	0.01849	long leg	$1.2M	$654K	20x
Bitget DYMUSDT	+0.0100%	4h	0.01847	−0.108%	$407K	$170K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01847	−0.108%	—	$12.8M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01845	−0.205%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01849	−0.022%	$4K	$294K	5x	as long as short
KuCoin DYMUSDTM	+0.0560%	4h	0.01847	−0.108%	$436K	$143K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.2413%	1h	0.01857	+0.444%	$15K	$5K	10x	as long as short