Funding you earn now, next payment 08:00 UTC+0.0041%/8h= +4.5% APRnext payment +$0.21 per $10,000 · paid last 24h +0.005%
Price spread now: Bybit against MEXC+0.050%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1171.174% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.050%, 7d avg +0.079%
=Funding pays, the price is against you. Bybit is 0.029% cheaper against MEXC than usual: you would sell low and buy high (spread +0.050% now, against its 7-day average of +0.079%). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC COW_USDT | 0.1609 | 0.0100 | pay 0.0050% / 4h | 1h 58m | $582K | $186K | 20x |
| Short | Bybit COWUSDT | 0.1610 | 0.0141 | get 0.0071% / 4h | 1h 58m | $955K | $463K | 25x |
MEXC COW_USDT
Bybit COWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against MEXC. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $8.66
- Price spread: +0.050% → +0.079%
- −$2.88
- Slippage, 4 orders
- −$102.38
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$111.6
- Costs to cover
- 1.174%
- Break-even
- 97.2 days
Slippage from MEXC: live order book, 41 min ago; Bybit: live order book, 46 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, 41 min ago | 3.16 bp | 6.9 bp −$7 | 37.3 bp −$373 | 292.9 bp −$29.3K | doesn't fit |
| Sell Bybit live order book, 46 min ago | 7.23 bp | 53.7 bp −$54 | 221.1 bp −$2,211 | doesn't fit | doesn't fit |
COW on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COW-USDT | +0.0065% | 4h | 0.1610 | +0.062% | $133K | $30K | 75x | as long as short |
| Aster COWUSDT | +0.0100% | 4h | 0.1611 | +0.099% | $30K | $12K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1610 | +0.062% | $2.1M | $2.8M | 50x | as long as short |
| Gate COW_USDT | +0.0100% | 4h | 0.1609 | 0.000% | $119K | $58K | 50x | as long as short |
| MEXC COW_USDTlong | +0.0100% | 4h | 0.1609 | long leg | $582K | $186K | 20x | |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1609 | 0.000% | $237K | $39K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1609 | 0.000% | $384K | $194K | 50x | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1611 | +0.112% | $6K | $592 | — | as long as short |
| Bybit COWUSDTshort | +0.0141% | 4h | 0.1610 | +0.050% | $955K | $463K | 25x | |
| BingX COW-USDT | +0.0198% | 4h | 0.1608 | −0.062% | — | $6.6M | — | as long as short |
BloFin COW-USDT
Aster COWUSDT
Binance COWUSDT
Gate COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
Variational Omni COW
BingX COW-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0943% | 1h | 0.1610 | +0.049% | $5K | $212 | 10x | as long as short |
Kraken Futures PF_COWUSD