Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.016%

Price spread now: MEXC against Injective−4.805%7-day average — · you buy dearer than you sell

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 7 days−0.020%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. MEXC is 4.805% cheaper against Injective than usual: you would sell low and buy high (spread −4.805% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$480 on $10k: about 8 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective S/USDC PERP	0.04100	0.0033	pay 0.0004% / 1h	14m 54s	$2K	$37K	12x
Short	MEXC S_USDT	0.03903	0.0100	get 0.0050% / 4h	1h 14m	$3.5M	$2.3M	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 −4.805%Rate

Funding earned: $14
Price spread: −4.805% → 0.000%: −$480.49
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: −$470.51
Costs to cover: 0.040%
Break-even: 242.3 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 2 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, 2 min ago	1.28 bp	3.9 bp −$4	44.7 bp −$447	264.1 bp −$26.4K	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.

S on 25 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
Kraken Futures PF_SUSD	−0.1603%	1h	0.03900	−4.890%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−6.683%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0917%	4h	0.03893	−5.061%	$606K	$31K	—	as long as short
01 Exchange SUSD	−0.0440%	1h	0.03840	−6.341%	$23K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0190%	1h	0.03904	−4.778%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03899	−4.897%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03904	−4.775%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03901	−4.854%	$99K	$343K	10x	as long as short
Injective S/USDC PERPlong	+0.0033%	1h	0.04100	long leg	$2K	$37K	12x
Lighter S	+0.0096%	1h	0.03907	−4.707%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0097%	4h	0.03903	−4.807%	$43K	$212K	10x	as long as short
Hyperliquid S	+0.0100%	1h	0.03903	−4.805%	$979K	$716K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03902	−4.829%	$5.3M	$18.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03893	−5.049%	$5.5M	$5.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03900	−4.878%	$975K	$5.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−4.805%	$319K	$265K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.03903	−4.805%	$3.5M	$2.3M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03900	−4.878%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03905	−4.756%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03898	−4.927%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	−4.634%	$25K	$460K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03901	−4.849%	$219K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03906	−4.732%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03904	−4.780%	$266K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0455%	1h	0.03910	−4.634%	$114K	$300K	5x	as long as short