Funding arb · Price arb /

DRIFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bitget+0.171%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$651as in the Funding arb table

Net, price: spread back to 7d avg − costs−$629as in the Price arb table

costs, in and out, $10k−$6516.507% of the position

Long on Bitget 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)−0.248%−$25 · spread now +0.171%, 7d avg −0.043%

Together, before fees−0.250%−$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 0.214% dearer against Bitget than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget DRIFTUSDT	0.01751	0.0100	pay 0.0050% / 4h	2h 18m	$540K	$364K	10x
Short	MEXC DRIFT_USDT	0.01754	0.0100	get 0.0050% / 4h	2h 18m	$415K	$171K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now +0.171%Rate

Funding earned: $0
Price spread: +0.171% → −0.043%: $21.4
Slippage, 4 orders: −$634.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$629.28
Costs to cover: 6.507%
Break-even: never at this rate

Slippage from Bitget: live order book, 46 min ago; MEXC: live order book, 32 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 Bitget live order book, 46 min ago	8.64 bp	191.8 bp −$192	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 32 min ago	17.38 bp	134.4 bp −$134	262.7 bp −$2,627	506.5 bp −$50.7K	doesn't fit

DRIFT on 9 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
Injective DRIFT/USDC PERP	+0.0033%	1h	0.01591	−9.138%	—	$9K	5.5x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01753	+0.114%	$2.4M	$6.8M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01750	−0.051%	$2.4M	$2.9M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01750	−0.057%	$124K	$239K	10x	as long as short
MEXC DRIFT_USDTshort	+0.0100%	4h	0.01754	+0.171%	$415K	$171K	20x
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01746	−0.286%	$689K	$127K	20x	as long as short
Bitget DRIFTUSDTlong	+0.0100%	4h	0.01751	long leg	$540K	$364K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01752	+0.057%	—	$6.7M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01741	−0.561%	$23K	$6K	—	as long as short