Funding arb · Price arb /

ERA

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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: BingX against MEXC+0.015%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$830.831% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.015%, 7d avg −0.008%

Together, before fees−0.132%−$13 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 0.023% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ERA_USDT	0.06778	0.0100	pay 0.0050% / 4h	1h 59m	$529K	$149K	20x
Short	BingX ERA-USDT	0.06779	0.0100	get 0.0050% / 4h	1h 59m	—	$6.5M	—

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 +0.015%Rate

Funding earned: $0
Price spread: +0.015% → −0.008%: $2.32
Slippage, 4 orders: −$69.05
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$80.73
Costs to cover: 0.831%
Break-even: never at this rate

Slippage from MEXC: live order book, 32 min ago; BingX: live order book, 7 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, 32 min ago	2.97 bp	15.2 bp −$15	57.2 bp −$572	715.0 bp −$71.5K	doesn't fit
Sell BingX live order book, 7 min ago	4.43 bp	24.1 bp −$24	94.8 bp −$948	1175.0 bp −$117.5K	1426.0 bp −$713.0K

ERA on 9 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
Aster ERAUSDT	+0.0100%	4h	0.06770	−0.117%	$5K	$12K	5x	as long as short
Binance ERAUSDT	+0.0100%	4h	0.06780	+0.030%	$2.1M	$3.9M	25x	as long as short
Bybit ERAUSDT	+0.0100%	4h	0.06778	0.000%	$788K	$737K	25x	as long as short
Gate ERA_USDT	+0.0100%	4h	0.06767	−0.162%	$153K	$647K	25x	as long as short
MEXC ERA_USDTlong	+0.0100%	4h	0.06778	long leg	$529K	$149K	20x
KuCoin ERAUSDTM	+0.0100%	4h	0.06765	−0.192%	$129K	$64K	25x	as long as short
Bitget ERAUSDT	+0.0100%	4h	0.06770	−0.118%	$812K	$216K	25x	as long as short
BingX ERA-USDTshort	+0.0100%	4h	0.06779	+0.015%	—	$6.5M	—
Variational Omni ERA	+0.0100%	4h	0.06781	+0.048%	$10K	$594	—	as long as short