Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Binance against MEXC+0.114%7-day average −0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.503%+$50 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.114%, 7d avg −0.126%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.241% dearer against MEXC than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 2Z_USDT	0.05241	0.0100	pay 0.0050% / 4h	1h 59m	$341K	$130K	50x
Short	Binance 2ZUSDT	0.05247	0.0100	get 0.0050% / 4h	1h 59m	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → −0.126%: $24.07
Slippage, 4 orders: −$59.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$49.32
Costs to cover: 0.734%
Break-even: never at this rate

Slippage from MEXC: live order book, 31 min ago; Binance: live order book, 5 min ago.

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, 31 min ago	5.78 bp	12.4 bp −$12	69.0 bp −$690	240.5 bp −$24.0K	doesn't fit
Sell Binance live order book, 5 min ago	1.91 bp	23.9 bp −$24	137.9 bp −$1,379	doesn't fit	doesn't fit

2Z on 17 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_2ZUSD	−0.3858%	1h	0.05215	−0.496%	$5K	$3K	10x	as long as short
Backpack 2Z_USDC_PERP	−0.0726%	1h	0.05239	−0.038%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.980%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05248	+0.134%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05243	+0.040%	$659K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05247	+0.117%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05240	−0.019%	$75K	$15K	3x	as long as short
Binance 2ZUSDTshort	+0.0100%	4h	0.05247	+0.114%	$2.1M	$2.1M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05248	+0.134%	$714K	$947K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05246	+0.095%	$445K	$715K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05236	−0.095%	$90K	$64K	50x	as long as short
MEXC 2Z_USDTlong	+0.0100%	4h	0.05241	long leg	$341K	$130K	50x
KuCoin 2ZUSDTM	+0.0100%	4h	0.05239	−0.031%	$180K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05247	+0.114%	$154K	$647K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05244	+0.057%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05242	+0.010%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05246	+0.095%	$2K	$1.1M	20x	as long as short