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: OKX against MEXC−0.058%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$880.876% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now −0.058%, 7d avg −0.085%

Together, before fees+0.352%+$35 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: OKX is 0.028% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 2Z_USDT	0.05216	0.0100	pay 0.0050% / 4h	2h 36m	$324K	$126K	50x
Short	OKX 2Z-USDT-SWAP	0.05213	0.0100	get 0.0050% / 4h	2h 36m	$444K	$696K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → −0.085%: $2.76
Slippage, 4 orders: −$73.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$84.8
Costs to cover: 0.876%
Break-even: never at this rate

Slippage from MEXC: live order book, 59 min ago; OKX: live order book, 10 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, 59 min ago	2.86 bp	11.2 bp −$11	66.2 bp −$662	247.8 bp −$24.8K	doesn't fit
Sell OKX live order book, 10 min ago	3.83 bp	34.6 bp −$35	doesn't fit	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
Backpack 2Z_USDC_PERP	−0.0850%	1h	0.05203	−0.249%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.525%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05218	+0.038%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05213	−0.059%	$657K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05218	+0.034%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05212	−0.081%	$75K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05213	−0.053%	$2.1M	$2.1M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05216	0.000%	$710K	$943K	50x	as long as short
OKX 2Z-USDT-SWAPshort	+0.0100%	4h	0.05213	−0.058%	$444K	$696K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05212	−0.077%	$90K	$60K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDTlong	+0.0100%	4h	0.05216	long leg	$324K	$126K	50x
KuCoin 2ZUSDTM	+0.0100%	4h	0.05208	−0.157%	$179K	$51K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05212	−0.077%	$152K	$639K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05214	−0.038%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05200	−0.313%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05217	+0.019%	$2K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0514%	1h	0.05189	−0.519%	$5K	$3K	10x	as long as short