Funding arb · Price arb /

ME

all ME markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: BloFin against Bybit−0.256%92s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1191.186% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.236%+$24 · spread now −0.256%, 7d avg −0.028%

Together, before fees+0.225%+$23 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: BloFin is 0.228% cheaper against Bybit than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.028%. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEUSDT	0.07434	0.0100	pay 0.0050% / 4h	53m 41s	$1.5M	$648K	25x
Short	BloFin ME-USDT	0.07415	0.0100	get 0.0050% / 4h	53m 41s	$107K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.256%Rate

Funding earned: −$0.08
Price spread: −0.256% → −0.028%: −$22.8
Slippage, 4 orders: −$95.61
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$141.48
Costs to cover: 1.186%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BloFin: live order book, 6 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, 2 min ago	4.72 bp	40.1 bp −$40	262.0 bp −$2,620	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	2.04 bp	19.0 bp −$19	58.6 bp −$586	doesn't fit	doesn't fit

ME on 13 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 ME-USDTshort	+0.0100%	4h	0.07415	−0.256%	$107K	$7K	50x
Hyperliquid ME	+0.0100%	1h	0.07439	+0.067%	$234K	$96K	3x	as long as short
Aster MEUSDT	+0.0100%	4h	0.07422	−0.155%	$17K	$11K	5x	as long as short
Binance MEUSDT	+0.0100%	4h	0.07442	+0.108%	$2.1M	$3.9M	50x	as long as short
Bybit MEUSDTlong	+0.0100%	4h	0.07434	long leg	$1.5M	$648K	25x
OKX ME-USDT-SWAP	+0.0100%	4h	0.07440	+0.081%	$477K	$1.0M	20x	as long as short
Gate ME_USDT	+0.0100%	8h	0.07430	−0.054%	$190K	$74K	50x	as long as short
MEXC ME_USDT	+0.0100%	4h	0.07442	+0.108%	$505K	$128K	20x	as long as short
KuCoin MEUSDTM	+0.0100%	4h	0.07429	−0.067%	$207K	$25K	30x	as long as short
Bitget MEUSDT	+0.0100%	4h	0.07441	+0.094%	$647K	$417K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ME-USDT	+0.0100%	4h	0.07440	+0.081%	—	$1.3M	—	as long as short
Variational Omni ME	+0.0100%	4h	0.07414	−0.262%	$11K	$1K	—	as long as short
Reya MERUSDPERP	+0.0228%	1h	0.07428	−0.087%	$26K	—	15x	as long as short