Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: MEXC against dYdX−0.127%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 6 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

Funding pays, the price is against you. MEXC is 0.127% cheaper against dYdX than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005514	0	get 0.0000% / 1h	41m 05s	$11K	$59	5x
Short	MEXC ATH_USDT	0.005507	0.0100	get 0.0050% / 4h	41m 05s	$8.9M	$679K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now −0.127%Rate

Funding earned: $21
Price spread: −0.127% → 0.000%: −$12.69
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$9.69
Costs to cover: 0.180%
Break-even: 10.2 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	3.63 bp	14.4 bp −$14	65.0 bp −$650	188.0 bp −$18.8K	doesn't fit

dYdX: 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.

ATH on 13 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_ATHUSD	−0.1804%	1h	0.005503	−0.206%	$17K	$109K	10x	as long as short
Variational Omni ATH	−0.0094%	4h	0.005499	−0.273%	$184K	$93K	—	as long as short
dYdX ATH-USDlong	0.0000%	1h	0.005514	long leg	$11K	$59	5x
BloFin ATH-USDT	+0.0057%	4h	0.005508	−0.109%	$162K	$70K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005507	−0.126%	$5K	$41K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005506	−0.142%	$3.3M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005496	−0.326%	$4.3M	$2.7M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005495	−0.345%	$706K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005500	−0.254%	$786K	$615K	30x	as long as short
MEXC ATH_USDTshort	+0.0100%	4h	0.005507	−0.127%	$8.9M	$679K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005499	−0.272%	$551K	$80K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005508	−0.109%	$1.5M	$896K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005502	−0.218%	—	$21.3M	—	as long as short