Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.121%

Price spread now: MEXC against Coinbase International+0.210%7-day average −0.138% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 4 days (all we have)−0.348%−$35 · spread now +0.210%, 7d avg −0.138%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and MEXC is 0.348% dearer against Coinbase International than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of −0.138%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.232% in total (about 12.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FIL-PERP-INTX	0.9995	−0.0240	get 0.0030% / 1h	30m 50s	$365K	$2.1M	50x
Short	MEXC FIL_USDC	1.0016	0.0100	get 0.0100% / 8h	3h 30m	$243K	$103K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.210%Rate

Funding earned: $71.4
Price spread: +0.210% → −0.138%: $34.8
Slippage, 4 orders: −$32.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $63.77
Costs to cover: 0.424%
Break-even: 0.7 days

Slippage from Coinbase International: live order book, 3 min ago; MEXC: live order book, 4 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 Coinbase International live order book, 3 min ago	6.51 bp	12.4 bp −$12	16.8 bp −$168	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.00 bp	5.7 bp −$6	10.9 bp −$109	71.0 bp −$7,102	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0248%	1h	1.0030	+0.350%	$173K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTXlong	−0.0240%	1h	0.9995	long leg	$365K	$2.1M	50x
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	1.0023	+0.280%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9993	−0.019%	$58K	$2K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0001%	8h	1.0008	+0.130%	$18.6M	$106.3M	50x	as long as short
KuCoin FILUSDTM	+0.0029%	8h	1.0020	+0.250%	$7.3M	$7.7M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.401%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0066%	1h	1.0027	+0.319%	$1.4M	$2.2M	50x	as long as short
Lighter FIL	+0.0096%	1h	1.0008	+0.128%	$154K	$365K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	1.0010	+0.150%	$8.5M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	1.0010	+0.154%	$512K	$611K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	1.0015	+0.197%	$57.6M	$184.5M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0012	+0.170%	$15.9M	$20.3M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	1.0025	+0.300%	$8.5M	$16.8M	50x	as long as short
MEXC FIL_USDCshort	+0.0100%	8h	1.0016	+0.210%	$243K	$103K	50x
Bitget FILUSDT	+0.0100%	8h	1.0014	+0.190%	$11.2M	$20.2M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	1.0017	+0.220%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	1.0019	+0.238%	$453K	$266K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9989	−0.060%	$45K	$297K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9993	−0.021%	$299K	$1.1M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9990	−0.050%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0031	+0.363%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0020	+0.250%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0021	+0.260%	$482	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0030	+0.350%	$622K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0020	+0.250%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	1.0018	+0.229%	$704K	$3.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9992	−0.030%	$2.7M	$703K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0582% / S −0.0248%	1h	1.0022	+0.271%	$267K	—	100x	as long as short