Funding arb · Price arb /

ERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC−0.044%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.044%, 7d avg +0.002%

Together, before fees+0.041%+$4 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 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ERA_USDT	0.06755	0.0100	pay 0.0050% / 4h	29m 52s	$508K	$136K	20x
Short	Bitget ERAUSDT	0.06752	0.0100	get 0.0050% / 4h	29m 52s	$808K	$231K	25x

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 −0.044%Rate

Funding earned: $0
Price spread: −0.044% → +0.002%: −$4.68
Slippage, 4 orders: −$78.64
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.32
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from MEXC: live order book, 40 min ago; Bitget: live order book, 46 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, 40 min ago	0.74 bp	18.7 bp −$19	69.4 bp −$694	719.3 bp −$71.9K	doesn't fit
Sell Bitget live order book, 46 min ago	6.68 bp	30.9 bp −$31	470.3 bp −$4,703	doesn't fit	doesn't fit

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
Gate ERA_USDT	−0.0064%	4h	0.06743	−0.178%	$149K	$660K	25x	as long as short
Aster ERAUSDT	+0.0100%	4h	0.06754	−0.010%	$5K	$11K	5x	as long as short
Binance ERAUSDT	+0.0100%	4h	0.06755	0.000%	$2.1M	$4.2M	25x	as long as short
Bybit ERAUSDT	+0.0100%	4h	0.06746	−0.133%	$749K	$727K	25x	as long as short
MEXC ERA_USDTlong	+0.0100%	4h	0.06755	long leg	$508K	$136K	20x
KuCoin ERAUSDTM	+0.0100%	4h	0.06743	−0.178%	$129K	$43K	25x	as long as short
Bitget ERAUSDTshort	+0.0100%	4h	0.06752	−0.044%	$808K	$231K	25x
BingX ERA-USDT	+0.0100%	4h	0.06750	−0.074%	—	$6.5M	—	as long as short
Variational Omni ERA	+0.0100%	4h	0.06743	−0.174%	$10K	$594	—	as long as short