Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h −0.408%

Price spread now: Injective against MEXC+0.471%100s7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.471% dearer against MEXC than usual: you sell high and buy low: +$47 more if the spread goes back to zero (this spread has no 7-day history yet). 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 IO_USDT	0.1485	0.0100	pay 0.0050% / 4h	3h 31m	$1.2M	$213K	125x
Short	Injective IO/USDC PERP	0.1492	0.0277	get 0.0035% / 1h	31m 37s	$2K	$196	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 +0.471%Rate

Funding earned: $37.13
Price spread: +0.471% → 0.000%: $47.14
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: $80.25
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 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, 4 min ago	6.71 bp	27.7 bp −$28	183.6 bp −$1,836	286.7 bp −$28.7K	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.

IO 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
Hyperliquid IO	+0.0100%	1h	0.1488	+0.215%	$997K	$277K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1488	+0.181%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1487	+0.163%	$3.0M	$4.9M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1485	−0.013%	$1.1M	$617K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1488	+0.215%	$229K	$446K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1485	long leg	$1.2M	$213K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1486	+0.067%	$341K	$194K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1489	+0.269%	$1.4M	$946K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1488	+0.202%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1490	+0.354%	$30K	$18K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1488	+0.178%	$3K	$212K	5x	as long as short
BloFin IO-USDT	+0.0157%	4h	0.1491	+0.404%	$192K	$33K	50x	as long as short
Injective IO/USDC PERPshort	+0.0277%	1h	0.1492	+0.471%	$2K	$196	5.5x
Kraken Futures PF_IOUSD	+4.0032%	1h	0.1491	+0.417%	$38K	$7K	10x	as long as short