Funding arb · Price arb /

DEEP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.6051%/8h= −662.6% APRpaid last 24h −0.426%

Price spread now: Bluefin against MEXC−0.051%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−3.813%−$381 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$182 a day on $10k at the current rate, and Bluefin is 0.051% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -3.813% in total (about -198.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DEEP_USDT	0.01945	0.0100	pay 0.0050% / 4h	3h 08m	$1.0M	$468K	100x
Short	Bluefin DEEP-PERP	0.01944	−0.5951	pay 0.0744% / 1h	8m 31s	$79K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$1,270.71
Price spread: −0.051% → 0.000%: −$5.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$1,286.85
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; Bluefin: no order-book sample. 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 MEXC live order book, 2 min ago	2.56 bp	18.5 bp −$18	55.3 bp −$553	243.9 bp −$24.4K	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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.

DEEP on 12 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
Bluefin DEEP-PERPshort	−0.5951%	1h	0.01944	−0.051%	$79K	$11K	20x
BloFin DEEP-USDT	+0.0081%	8h	0.01948	+0.154%	$136K	$32K	50x	as long as short
Binance DEEPUSDT	+0.0100%	4h	0.01946	+0.027%	$2.1M	$6.1M	50x	as long as short
Bybit DEEPUSDT	+0.0100%	8h	0.01942	−0.154%	$4.2M	$2.8M	50x	as long as short
Gate DEEP_USDT	+0.0100%	4h	0.01943	−0.103%	$301K	$89K	50x	as long as short
MEXC DEEP_USDTlong	+0.0100%	4h	0.01945	long leg	$1.0M	$468K	100x
KuCoin DEEPUSDTM	+0.0100%	4h	0.01946	+0.051%	$1.8M	$93K	20x	as long as short
Bitget DEEPUSDT	+0.0100%	4h	0.01950	+0.257%	$810K	$578K	50x	as long as short
BingX DEEP-USDT	+0.0100%	4h	0.01947	+0.103%	—	$6.6M	—	as long as short
Variational Omni DEEP	+0.0100%	8h	0.01944	−0.044%	$12K	$9K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DEEP-USD	+0.0104%	1h	0.01944	−0.039%	$3K	$224K	5x	as long as short
Kraken Futures PF_DEEPUSD	+0.2251%	1h	0.01944	−0.037%	$8K	$10K	10x	as long as short