Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0067%/8hpaid last 24h +0.020%

Price spread now: MEXC against Injective+2.380%7-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 MEXC

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 +$2 a day on $10k at the current rate, and MEXC is 2.380% dearer against Injective than usual: you sell high and buy low: +$238 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOT/USDC PERP	0.0004874	0.0033	pay 0.0004% / 1h	32m 46s	$1K	$13K	5.5x
Short	MEXC NOT_USDT	0.0004990	0.0100	get 0.0050% / 4h	32m 46s	$1.3M	$468K	200x

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

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 MEXCbpOrdersPrice spread, now +2.380%Rate

Funding earned: $14
Price spread: +2.380% → 0.000%: $238
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $247.98
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 5 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, 5 min ago	1.00 bp	9.1 bp −$9	29.7 bp −$297	88.6 bp −$8,860	102.0 bp −$51.0K

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.

NOT on 16 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
Variational Omni NOT	−0.0171%	4h	0.0004979	+2.145%	$61K	$28K	—	as long as short
Injective NOT/USDC PERPlong	+0.0033%	1h	0.0004874	long leg	$1K	$13K	5.5x
Lighter 1000NOT	+0.0096%	1h	0.0005003	+2.649%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0004990	+2.380%	$366K	$67K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004992	+2.421%	$14K	$13K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0004994	+2.462%	$2.0M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0004984	+2.257%	$2.1M	$890K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004992	+2.421%	$594K	$613K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0004983	+2.236%	$140K	$81K	50x	as long as short
MEXC NOT_USDTshort	+0.0100%	4h	0.0004990	+2.380%	$1.3M	$468K	200x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0004988	+2.339%	$484K	$122K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0004994	+2.462%	$635K	$392K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0004991	+2.400%	—	$713K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0004990	+2.376%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0143%	4h	0.0004980	+2.175%	$112K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.6735%	1h	0.0005029	+3.171%	$48K	$9K	10x	as long as short