Funding arb · Price arb /

MASK

all MASK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0332%/8h= −36.3% APRpaid last 24h +0.005%

Price spread now: Bybit against MEXC0.000%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$870.866% 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)+0.065%+$6 · spread now 0.000%, 7d avg +0.094%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.094% cheaper against MEXC than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.094%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.001% in total (about -0.0% 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	MEXC MASK_USDT	0.4849	0.0100	pay 0.0100% / 8h	3m 21s	$1.1M	$329K	50x
Short	Bybit MASKUSDT	0.4849	−0.0232	pay 0.0116% / 4h	3m 21s	$1.3M	$1.9M	50x

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 0.000%Rate

Funding earned: −$69.65
Price spread: 0.000% → +0.094%: −$9.37
Slippage, 4 orders: −$71.6
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$165.62
Costs to cover: 0.866%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	3.10 bp	5.3 bp −$5	38.2 bp −$382	751.3 bp −$75.1K	doesn't fit
Sell Bybit live order book, 3 min ago	4.14 bp	37.3 bp −$37	92.3 bp −$923	doesn't fit	doesn't fit

MASK 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
Bybit MASKUSDTshort	−0.0232%	4h	0.4849	0.000%	$1.3M	$1.9M	50x
Variational Omni MASK	−0.0092%	4h	0.4837	−0.240%	$23K	$1	—	as long as short
Binance MASKUSDT	+0.0100%	4h	0.4852	+0.062%	$2.6M	$9.9M	50x	as long as short
OKX MASK-USDT-SWAP	+0.0100%	8h	0.4848	−0.021%	$500K	$3.1M	20x	as long as short
Gate MASK_USDT	+0.0100%	8h	0.4848	−0.021%	$278K	$663K	50x	as long as short
MEXC MASK_USDTlong	+0.0100%	8h	0.4849	long leg	$1.1M	$329K	50x
KuCoin MASKUSDTM	+0.0100%	4h	0.4850	+0.021%	$599K	$229K	50x	as long as short
Bitget MASKUSDT	+0.0100%	4h	0.4854	+0.103%	$510K	$1.4M	50x	as long as short
BingX MASK-USDT	+0.0100%	4h	0.4846	−0.062%	—	$2.3M	—	as long as short
BloFin MASK-USDT	+0.0120%	4h	0.4844	−0.103%	$127K	$20K	50x	as long as short