Funding arb · Price arb /

MAGIC

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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: MEXC against Bybit−0.020%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$930.928% of the position

Long on Bybit Short on MEXC

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)−0.002%$0 · spread now −0.020%, 7d avg −0.057%

Together, before fees−0.003%$0 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 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MAGICUSDT	0.04992	0.0100	pay 0.0050% / 4h	1h 21m	$515K	$146K	25x
Short	MEXC MAGIC_USDT	0.04991	0.0100	get 0.0050% / 4h	1h 21m	$209K	$117K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.057%: $3.67
Slippage, 4 orders: −$77.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$89.13
Costs to cover: 0.928%
Break-even: never at this rate

Slippage from Bybit: live order book, 33 min ago; MEXC: live order book, 14 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 Bybit live order book, 33 min ago	3.02 bp	35.2 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 14 min ago	1.01 bp	8.5 bp −$8	34.8 bp −$348	105.3 bp −$10.5K	367.2 bp −$183.6K

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 MAGICUSDT	+0.0100%	4h	0.04993	+0.020%	$1.6M	$1.7M	50x	as long as short
Bybit MAGICUSDTlong	+0.0100%	4h	0.04992	long leg	$515K	$146K	25x
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04988	−0.080%	$474K	$727K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04985	−0.140%	$126K	$27K	50x	as long as short
MEXC MAGIC_USDTshort	+0.0100%	4h	0.04991	−0.020%	$209K	$117K	50x
KuCoin MAGICUSDTM	+0.0100%	4h	0.04993	+0.020%	$183K	$25K	25x	as long as short
Bitget MAGICUSDT	+0.0100%	4h	0.04990	−0.040%	$422K	$73K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04993	+0.020%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04980	−0.241%	$8K	$555	—	as long as short
BloFin MAGIC-USDT	+0.0125%	4h	0.04987	−0.100%	$84K	$7K	50x	as long as short