Funding arb · Price arb /

DRIFT

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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: Binance against MEXC+0.169%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$364as in the Funding arb table

Net, price: spread back to 7d avg − costs−$351as in the Price arb table

costs, in and out, $10k−$3643.637% of the position

Long on MEXC Short on Binance

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)−0.351%−$35 · spread now +0.169%, 7d avg +0.047%

Together, before fees−0.351%−$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: Binance is 0.122% dearer against MEXC than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DRIFT_USDT	0.01772	0.0100	pay 0.0050% / 4h	2h 39m	$420K	$167K	20x
Short	Binance DRIFTUSDT	0.01775	0.0100	get 0.0050% / 4h	2h 39m	$2.5M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → +0.047%: $12.22
Slippage, 4 orders: −$349.68
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$351.46
Costs to cover: 3.637%
Break-even: never at this rate

Slippage from MEXC: live order book, 56 min ago; Binance: live order book, 14 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, 56 min ago	25.16 bp	146.7 bp −$147	293.3 bp −$2,933	532.8 bp −$53.3K	doesn't fit
Sell Binance live order book, 14 min ago	2.77 bp	37.5 bp −$37	269.6 bp −$2,696	doesn't fit	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	−10.214%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0068%	4h	0.01781	+0.508%	$163K	$10K	20x	as long as short
Binance DRIFTUSDTshort	+0.0100%	4h	0.01775	+0.169%	$2.5M	$6.7M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01772	−0.011%	$2.3M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01774	+0.113%	$118K	$248K	10x	as long as short
MEXC DRIFT_USDTlong	+0.0100%	4h	0.01772	long leg	$420K	$167K	20x
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01769	−0.169%	$695K	$132K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01773	+0.056%	$545K	$372K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01775	+0.169%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01774	+0.096%	$24K	$6K	—	as long as short