Funding arb · Price arb /

MAGIC

all MAGIC markets

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: Bybit against MEXC−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−$100as in the Price arb table

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

Long on MEXC Short on Bybit

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)+0.042%+$4 · spread now −0.020%, 7d avg +0.057%

Together, before fees+0.043%+$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: Bybit is 0.077% cheaper against MEXC than usual: you would sell low and buy high, −$8 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	MEXC MAGIC_USDT	0.04987	0.0100	pay 0.0050% / 4h	1h 18m	$209K	$117K	50x
Short	Bybit MAGICUSDT	0.04986	0.0100	get 0.0050% / 4h	1h 18m	$514K	$146K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.057%: −$7.68
Slippage, 4 orders: −$77.8
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$100.48
Costs to cover: 0.928%
Break-even: never at this rate

Slippage from MEXC: live order book, 17 min ago; Bybit: live order book, 37 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, 17 min ago	1.01 bp	8.9 bp −$9	30.1 bp −$301	100.3 bp −$10.0K	350.2 bp −$175.1K
Sell Bybit live order book, 37 min ago	3.02 bp	40.2 bp −$40	322.3 bp −$3,223	doesn't fit	doesn't fit

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
BloFin MAGIC-USDT	+0.0079%	4h	0.04991	+0.080%	$84K	$7K	50x	as long as short
Binance MAGICUSDT	+0.0100%	4h	0.04984	−0.060%	$1.6M	$1.7M	50x	as long as short
Bybit MAGICUSDTshort	+0.0100%	4h	0.04986	−0.020%	$514K	$146K	25x
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04980	−0.140%	$474K	$726K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04985	−0.040%	$126K	$27K	50x	as long as short
MEXC MAGIC_USDTlong	+0.0100%	4h	0.04987	long leg	$209K	$117K	50x
KuCoin MAGICUSDTM	+0.0100%	4h	0.04988	+0.020%	$182K	$25K	25x	as long as short
Bitget MAGICUSDT	+0.0100%	4h	0.04986	−0.020%	$422K	$73K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04991	+0.080%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04994	+0.142%	$8K	$555	—	as long as short