Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: MEXC against OKX+0.074%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.282%−$28 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.074%, 7d avg +0.015%

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: MEXC is 0.059% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BILL-USDT-SWAP	0.01352	0.0100	pay 0.0050% / 4h	11m 16s	$1.1M	$3.0M	20x
Short	MEXC BILL_USDT	0.01353	0.0100	get 0.0050% / 4h	11m 16s	$1.1M	$366K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.015%: $5.93
Slippage, 4 orders: −$49.99
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$54.05
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; MEXC: live order book, 3 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 OKX live order book, 4 min ago	3.69 bp	18.6 bp −$19	185.4 bp −$1,854	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	3.69 bp	5.1 bp −$5	67.0 bp −$670	396.5 bp −$39.6K	doesn't fit

BILL on 16 exchanges

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	0.01352	−0.009%	$3K	$6K	5x	as long as short
Binance BILLUSDT	+0.0100%	4h	0.01353	+0.074%	$2.5M	$4.2M	20x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01350	−0.148%	$1.3M	$997K	20x	as long as short
OKX BILL-USDT-SWAPlong	+0.0100%	4h	0.01352	long leg	$1.1M	$3.0M	20x
Gate BILL_USDT	+0.0100%	4h	0.01350	−0.148%	$296K	$142K	20x	as long as short
MEXC BILL_USDTshort	+0.0100%	4h	0.01353	+0.074%	$1.1M	$366K	50x
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01352	0.000%	$21K	$368	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01355	+0.222%	$2K	$1.3M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01355	+0.222%	$11K	$38K	20x	as long as short
BloFin BILL-USDT	+0.0104%	4h	0.01351	−0.074%	$146K	$16K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USD	+0.0104%	1h	0.01353	+0.038%	$3K	$252K	5x	as long as short
Bitget BILLUSDT	+0.0144%	4h	0.01353	+0.074%	$675K	$1.6M	20x	as long as short
BingX BILL-USDT	+0.0152%	4h	0.01352	0.000%	—	$1.7M	—	as long as short
KuCoin BILLUSDTM	+0.0162%	4h	0.01353	+0.037%	$457K	$637K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0672%	1h	0.01349	−0.244%	$35K	$75K	50x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2490%	1h	0.01354	+0.141%	$137K	$67K	10x	as long as short