Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.009%

Price spread now: MEXC against Extended+0.039%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1381.375% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.039%, 7d avg 0.000%

Together, before fees+0.064%+ Points / potential airdropExtended: Active · farm board+$6 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: MEXC is 0.039% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BILL-USD	0.01367	0.0208	pay 0.0026% / 1h	48m 47s	$2K	$227K	5x
Short	MEXC BILL_USDT	0.01368	0.0206	get 0.0103% / 4h	2h 48m	$1.0M	$330K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$0.42
Price spread: +0.039% → 0.000%: $3.92
Slippage, 4 orders: −$132.51
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$134.01
Costs to cover: 1.375%
Break-even: never at this rate

Slippage from Extended: live order book, 18 min ago; MEXC: live order book, 2 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 Extended live order book, 18 min ago	5.42 bp	48.9 bp −$49	460.0 bp −$4,600	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	3.65 bp	9.4 bp −$9	64.2 bp −$642	384.7 bp −$38.5K	doesn't fit

BILL 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
Aster BILLUSDT	+0.0100%	4h	0.01370	+0.181%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01367	−0.034%	$1.3M	$962K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01368	+0.039%	$995K	$2.6M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01368	+0.039%	$276K	$76K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01368	+0.039%	$624K	$925K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01370	+0.186%	$1K	$1.1M	20x	as long as short
BloFin BILL-USDT	+0.0145%	4h	0.01369	+0.112%	$146K	$19K	20x	as long as short
BingX BILL-USDT	+0.0194%	4h	0.01369	+0.112%	—	$1.7M	—	as long as short
MEXC BILL_USDTshort	+0.0206%	4h	0.01368	+0.039%	$1.0M	$330K	50x
Binance BILLUSDT	+0.0207%	4h	0.01368	+0.039%	$2.4M	$3.7M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USDlong	+0.0208%	1h	0.01367	long leg	$2K	$227K	5x
Backpack BILL_USDC_PERP	+0.0552%	1h	0.01366	−0.107%	$21K	$941	5x	as long as short
HTX BILL-USDT	+0.0557%	4h	0.01371	+0.259%	$17K	$8K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01364	−0.268%	$46K	$99K	50x	as long as short
KuCoin BILLUSDTM	+0.0852%	4h	0.01368	+0.069%	$441K	$292K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2242%	1h	0.01368	+0.025%	$107K	$14K	10x	as long as short