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: KuCoin against MEXC−0.172%7-day average −0.231% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,246as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,238as in the Price arb table

costs, in and out, $10k−$1,24412.442% of the position

Long on MEXC Short on KuCoin

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)−0.079%−$8 · spread now −0.172%, 7d avg −0.231%

Together, before fees−0.095%−$9 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: KuCoin is 0.058% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.231%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DRIFT_USDT	0.01741	0.0100	pay 0.0050% / 4h	3h 38m	$417K	$172K	20x
Short	KuCoin DRIFTUSDTM	0.01738	0.0100	get 0.0050% / 4h	3h 38m	$687K	$128K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.172%Rate

Funding earned: $0
Price spread: −0.172% → −0.231%: $5.83
Slippage, 4 orders: −$1,228.16
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,238.33
Costs to cover: 12.442%
Break-even: never at this rate

Slippage from MEXC: live order book, 17 min ago; KuCoin: live order book, 15 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, 17 min ago	14.36 bp	143.5 bp −$144	281.0 bp −$2,810	520.6 bp −$52.1K	doesn't fit
Sell KuCoin live order book, 15 min ago	17.19 bp	345.4 bp −$345	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	−8.616%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0041%	4h	0.01745	+0.230%	$153K	$10K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01743	+0.110%	$2.3M	$6.8M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01739	−0.115%	$2.4M	$2.9M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01739	−0.115%	$128K	$238K	10x	as long as short
MEXC DRIFT_USDTlong	+0.0100%	4h	0.01741	long leg	$417K	$172K	20x
KuCoin DRIFTUSDTMshort	+0.0100%	4h	0.01738	−0.172%	$687K	$128K	20x
Bitget DRIFTUSDT	+0.0100%	4h	0.01743	+0.115%	$538K	$360K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01744	+0.172%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01745	+0.214%	$23K	$6K	—	as long as short