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: Bitget against MEXC−0.058%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$658as in the Funding arb table

Net, price: spread back to 7d avg − costs−$668as in the Price arb table

costs, in and out, $10k−$6586.581% of the position

Long on MEXC Short on Bitget

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)+0.111%+$11 · spread now −0.058%, 7d avg +0.045%

Together, before fees+0.113%+$11 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: Bitget is 0.103% cheaper against MEXC than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DRIFT_USDT	0.01723	0.0100	pay 0.0050% / 4h	2h 55m	$411K	$169K	20x
Short	Bitget DRIFTUSDT	0.01722	0.0100	get 0.0050% / 4h	2h 55m	$532K	$363K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.045%: −$10.33
Slippage, 4 orders: −$642.08
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$668.41
Costs to cover: 6.581%
Break-even: never at this rate

Slippage from MEXC: live order book, 61 min ago; Bitget: live order book, 10 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, 61 min ago	14.36 bp	143.5 bp −$144	281.0 bp −$2,810	520.6 bp −$52.1K	doesn't fit
Sell Bitget live order book, 10 min ago	8.64 bp	186.1 bp −$186	doesn't fit	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	−7.661%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0083%	4h	0.01729	+0.348%	$153K	$10K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01724	+0.058%	$2.3M	$6.8M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01722	−0.075%	$2.3M	$2.9M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01723	0.000%	$124K	$238K	10x	as long as short
MEXC DRIFT_USDTlong	+0.0100%	4h	0.01723	long leg	$411K	$169K	20x
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01719	−0.232%	$679K	$128K	20x	as long as short
Bitget DRIFTUSDTshort	+0.0100%	4h	0.01722	−0.058%	$532K	$363K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01723	0.000%	—	$6.7M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01718	−0.306%	$23K	$6K	—	as long as short