Funding arb · Price arb /

MAGIC

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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: MEXC against Binance−0.101%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.101%, 7d avg −0.003%

Together, before fees+0.127%+$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: MEXC is 0.099% cheaper against Binance than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MAGICUSDT	0.04935	0.0100	pay 0.0050% / 4h	2h 40m	$1.6M	$1.6M	50x
Short	MEXC MAGIC_USDT	0.04930	0.0100	get 0.0050% / 4h	2h 40m	$199K	$113K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Binance. 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 BinancebpFee MEXCbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0
Price spread: −0.101% → −0.003%: −$9.85
Slippage, 4 orders: −$43.81
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$67.66
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; MEXC: live order book, 45 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 Binance live order book, 8 min ago	2.01 bp	16.8 bp −$17	108.3 bp −$1,083	doesn't fit	doesn't fit
Sell MEXC live order book, 45 min ago	3.02 bp	10.8 bp −$11	39.1 bp −$391	94.7 bp −$9,466	331.9 bp −$166.0K

MAGIC 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
Binance MAGICUSDTlong	+0.0100%	4h	0.04935	long leg	$1.6M	$1.6M	50x
Bybit MAGICUSDT	+0.0100%	4h	0.04932	−0.061%	$506K	$149K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04930	−0.101%	$468K	$709K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04936	+0.020%	$126K	$25K	50x	as long as short
MEXC MAGIC_USDTshort	+0.0100%	4h	0.04930	−0.101%	$199K	$113K	50x
KuCoin MAGICUSDTM	+0.0100%	4h	0.04936	+0.020%	$184K	$26K	25x	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04938	+0.066%	$8K	$555	—	as long as short
BloFin MAGIC-USDT	+0.0101%	4h	0.04942	+0.142%	$83K	$6K	50x	as long as short
Bitget MAGICUSDT	+0.0114%	4h	0.04936	+0.020%	$422K	$79K	25x	as long as short
BingX MAGIC-USDT	+0.0128%	4h	0.04930	−0.101%	—	$2.3M	—	as long as short