Funding arb · Price arb /

DRIFT

all DRIFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin+0.169%7-day average +0.236% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,240as in the Price arb table

costs, in and out, $10k−$1,23312.328% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now +0.169%, 7d avg +0.236%

Together, before fees+0.063%+$6 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 0.068% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.236%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin DRIFTUSDTM	0.01779	0.0100	pay 0.0050% / 4h	2h 35m	$699K	$132K	20x
Short	MEXC DRIFT_USDT	0.01782	0.0100	get 0.0050% / 4h	2h 35m	$422K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → +0.236%: −$6.76
Slippage, 4 orders: −$1,216.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1,239.55
Costs to cover: 12.328%
Break-even: never at this rate

Slippage from KuCoin: live order book, 34 min ago; MEXC: live order book, 60 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 KuCoin live order book, 34 min ago	11.07 bp	528.6 bp −$529	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 60 min ago	25.16 bp	136.5 bp −$137	251.2 bp −$2,512	491.6 bp −$49.2K	doesn't fit

DRIFT on 10 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	−10.568%	—	$9K	5.5x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01791	+0.670%	$2.5M	$6.7M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01784	+0.270%	$2.3M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01780	+0.056%	$118K	$248K	10x	as long as short
MEXC DRIFT_USDTshort	+0.0100%	4h	0.01782	+0.169%	$422K	$168K	20x
KuCoin DRIFTUSDTMlong	+0.0100%	4h	0.01779	long leg	$699K	$132K	20x
Bitget DRIFTUSDT	+0.0100%	4h	0.01781	+0.112%	$548K	$372K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01788	+0.506%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01783	+0.237%	$24K	$6K	—	as long as short
BloFin DRIFT-USDT	+0.0128%	4h	0.01786	+0.393%	$163K	$10K	20x	as long as short