Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1918%/8h= +210.0% APRpaid last 24h +0.574%

Price spread now: Deribit against MEXC+0.130%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+1.854%+$185 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.130%, 7d avg +0.060%

Together, before fees+1.801%+$180 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and Deribit is 0.071% dearer against MEXC than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BILL_USDT	0.01380	0.0444	pay 0.0222% / 4h	1h 13m	$1.1M	$338K	50x
Short	Deribit BILL_USDC-PERPETUAL	0.01382	0.2362	get 0.0295% / 1h	13m 55s	$108K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.130%Rate

Funding earned: $402.8
Price spread: +0.130% → +0.060%: $7.07
Slippage, 4 orders: −$41.31
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $361.56
Costs to cover: 0.483%
Break-even: 0.7 days

Slippage from MEXC: live order book, 2 min ago; Deribit: live order book, 49 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, 2 min ago	3.62 bp	7.5 bp −$7	91.2 bp −$912	362.3 bp −$36.2K	doesn't fit
Sell Deribit live order book, 49 min ago	12.99 bp	16.5 bp −$16	doesn't fit	doesn't fit	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
Bybit BILLUSDT	+0.0100%	4h	0.01380	0.000%	$1.3M	$960K	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01380	0.000%	$278K	$84K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01381	+0.072%	$640K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01378	−0.145%	$21K	$939	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01383	+0.217%	$1K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01376	−0.290%	$11K	$39K	20x	as long as short
BloFin BILL-USDT	+0.0131%	4h	0.01383	+0.217%	$146K	$19K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0183%	4h	0.01380	0.000%	$1.1M	$2.7M	20x	as long as short
Aster BILLUSDT	+0.0245%	4h	0.01380	+0.009%	$2K	$4K	5x	as long as short
BingX BILL-USDT	+0.0442%	4h	0.01379	−0.072%	—	$1.7M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BILL_USDTlong	+0.0444%	4h	0.01380	long leg	$1.1M	$338K	50x
Binance BILLUSDT	+0.0446%	4h	0.01380	0.000%	$2.5M	$3.8M	20x	as long as short
Extended BILL-USD	+0.0448%	1h	0.01380	−0.027%	$1K	$222K	5x	as long as short
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01380	+0.036%	$46K	$51K	50x	as long as short
KuCoin BILLUSDTM	+0.1834%	4h	0.01382	+0.123%	$459K	$308K	20x	as long as short
Deribit BILL_USDC-PERPETUALshort	+0.2362%	1h	0.01382	+0.130%	$108K	$14K	10x