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 Bybit+0.115%7-day average +0.161% · you sell dearer than you buy

Net, funding: paid 7d − costs−$368as in the Funding arb table

Net, price: spread back to 7d avg − costs−$372as in the Price arb table

costs, in and out, $10k−$3683.677% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.348%+$35 · spread now +0.115%, 7d avg +0.161%

Together, before fees+0.348%+$35 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 0.046% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.161%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DRIFTUSDT	0.01742	0.0100	pay 0.0050% / 4h	2h 05m	$2.3M	$2.9M	20x
Short	MEXC DRIFT_USDT	0.01744	0.0100	get 0.0050% / 4h	2h 05m	$413K	$172K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.161%: −$4.59
Slippage, 4 orders: −$352.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$372.3
Costs to cover: 3.677%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 45 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 Bybit live order book, 2 min ago	2.87 bp	47.2 bp −$47	971.3 bp −$9,713	doesn't fit	doesn't fit
Sell MEXC live order book, 45 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	−8.668%	—	$9K	5.5x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01744	+0.115%	$2.3M	$6.8M	20x	as long as short
Bybit DRIFTUSDTlong	+0.0100%	4h	0.01742	long leg	$2.3M	$2.9M	20x
Gate DRIFT_USDT	+0.0100%	4h	0.01743	+0.057%	$123K	$240K	10x	as long as short
MEXC DRIFT_USDTshort	+0.0100%	4h	0.01744	+0.115%	$413K	$172K	20x
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01739	−0.172%	$684K	$128K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01744	+0.115%	$537K	$364K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01741	−0.057%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01742	−0.017%	$23K	$6K	—	as long as short