Funding arb · Price arb /

DRIFT

all DRIFT markets

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: BingX against MEXC−0.114%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$341as in the Funding arb table

Net, price: spread back to 7d avg − costs−$348as in the Price arb table

costs, in and out, $10k−$3413.410% of the position

Long on MEXC Short on BingX

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)+0.048%+$5 · spread now −0.114%, 7d avg −0.041%

Together, before fees+0.050%+$5 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: BingX is 0.072% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DRIFT_USDT	0.01761	0.0100	pay 0.0050% / 4h	1h 16m	$417K	$168K	20x
Short	BingX DRIFT-USDT	0.01759	0.0100	get 0.0050% / 4h	1h 16m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.041%: −$7.22
Slippage, 4 orders: −$326.96
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$348.18
Costs to cover: 3.410%
Break-even: never at this rate

Slippage from MEXC: live order book, 29 min ago; BingX: live order book, 11 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, 29 min ago	17.33 bp	132.3 bp −$132	264.6 bp −$2,646	507.7 bp −$50.8K	doesn't fit
Sell BingX live order book, 11 min ago	5.71 bp	26.5 bp −$26	162.4 bp −$1,624	726.0 bp −$72.6K	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	−9.654%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0057%	4h	0.01756	−0.284%	$111K	$10K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01763	+0.114%	$2.4M	$6.6M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01758	−0.153%	$2.4M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01759	−0.114%	$124K	$235K	10x	as long as short
MEXC DRIFT_USDTlong	+0.0100%	4h	0.01761	long leg	$417K	$168K	20x
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01758	−0.170%	$691K	$118K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01760	−0.057%	$541K	$359K	10x	as long as short
BingX DRIFT-USDTshort	+0.0100%	4h	0.01759	−0.114%	—	$6.6M	—
Variational Omni DRIFT	+0.0100%	4h	0.01760	−0.075%	$24K	$6K	—	as long as short