Funding arb · Price arb /

MERL

all MERL 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: MEXC against Binance−0.037%7-day average 0.000% · 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−$62as in the Price arb table

costs, in and out, $10k−$580.582% 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 7 days+0.037%+$4 · spread now −0.037%, 7d avg 0.000%

Together, before fees+0.037%+$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: MEXC is 0.037% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MERLUSDT	0.02754	0.0100	pay 0.0050% / 4h	3h 57m	$1.9M	$2.1M	50x
Short	MEXC MERL_USDT	0.02753	0.0100	get 0.0050% / 4h	3h 57m	$14.5M	$113K	100x

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 −0.037%Rate

Funding earned: $0
Price spread: −0.037% → 0.000%: −$3.72
Slippage, 4 orders: −$44.19
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$61.91
Costs to cover: 0.582%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; MEXC: live order book, 1 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, 7 min ago	1.82 bp	23.3 bp −$23	195.4 bp −$1,954	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.82 bp	3.8 bp −$4	46.2 bp −$462	170.4 bp −$17.0K	530.4 bp −$265.2K

MERL on 16 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
Deribit MERL_USDC-PERPETUAL	−0.0295%	1h	0.02753	−0.033%	$49K	$61K	10x	as long as short
Coinbase International MERL-PERP-INTX	−0.0152%	1h	0.02748	−0.229%	$27K	$513K	50x	as long as short
Gate MERL_USDT	+0.0028%	8h	0.02756	+0.072%	$254K	$65K	25x	as long as short
BloFin MERL-USDT	+0.0041%	4h	0.02757	+0.108%	$119K	$3K	50x	as long as short
Orderly PERP_MERL_USDC	+0.0099%	4h	0.02754	0.000%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02756	+0.065%	$440K	$133K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02754	−0.002%	$3K	$427	5x	as long as short
Binance MERLUSDTlong	+0.0100%	4h	0.02754	long leg	$1.9M	$2.1M	50x
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02752	−0.073%	$1.3M	$2.6M	20x	as long as short
MEXC MERL_USDTshort	+0.0100%	4h	0.02753	−0.037%	$14.5M	$113K	100x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MERLUSDTM	+0.0100%	4h	0.02757	+0.108%	$889K	$64K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02760	+0.217%	$1.6M	$285K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02751	−0.123%	$9K	$188	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02750	−0.146%	$1K	$1.0M	20x	as long as short
Bybit MERLUSDT	+0.0211%	8h	0.02743	−0.400%	$1.2M	$444K	25x	as long as short
BingX MERL-USDT	+0.0571%	4h	0.02754	0.000%	—	$6.6M	—	as long as short