Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.089%
Price spread now: Bitget against Bybit+0.293%7-day average +0.279% · you sell dearer than you buy
Net, funding: paid 7d − costs−$326as in the Funding arb table
Net, price: spread back to 7d avg − costs−$299as in the Price arb table
costs, in and out, $10k−$3003.000% of the position
Funding, last 7 days−0.259%−$26 on $10k
+Price spread, last 7 days+0.063%+$6 · spread now +0.293%, 7d avg +0.279%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MERLUSDT | 0.02729 | 0.0108 | pay 0.0108% / 8h | 6h 30m | $1.2M | $429K | 25x |
| Short | Bitget MERLUSDT | 0.02737 | 0.0100 | get 0.0050% / 4h | 2h 30m | $1.6M | $246K | 25x |
Bybit MERLUSDT
Bitget MERLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$1.6
- Price spread: +0.293% → +0.279%
- $1.4
- Slippage, 4 orders
- −$276.99
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$300.19
- Costs to cover
- 3.000%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Bitget: live order book, 2 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, 1 min ago | 5.50 bp | 117.0 bp −$117 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 5.48 bp | 28.0 bp −$28 | 149.2 bp −$1,492 | doesn't fit | doesn't fit |
MERL on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MERL-PERP-INTX | −0.0232% | 1h | 0.02730 | +0.026% | $26K | $499K | 50x | as long as short |
| Deribit MERL_USDC-PERPETUAL | 0.0000% | 1h | 0.02735 | +0.231% | $49K | $61K | 10x | as long as short |
| Orderly PERP_MERL_USDC | +0.0099% | 4h | 0.02735 | +0.220% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02736 | +0.238% | $429K | $138K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02735 | +0.220% | $3K | $427 | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02736 | +0.257% | $1.8M | $2.1M | 50x | as long as short |
| OKX MERL-USDT-SWAP | +0.0100% | 4h | 0.02733 | +0.147% | $1.2M | $2.5M | 20x | as long as short |
| Gate MERL_USDT | +0.0100% | 8h | 0.02735 | +0.220% | $251K | $61K | 25x | as long as short |
| MEXC MERL_USDT | +0.0100% | 4h | 0.02736 | +0.257% | $14.4M | $117K | 100x | as long as short |
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02737 | +0.293% | $882K | $65K | 30x | as long as short |
Coinbase International MERL-PERP-INTX
Deribit MERL_USDC-PERPETUAL
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
OKX MERL-USDT-SWAP
Gate MERL_USDT
MEXC MERL_USDT
KuCoin MERLUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MERLUSDTshort | +0.0100% | 4h | 0.02737 | +0.293% | $1.6M | $246K | 25x | |
| Variational Omni MERL | +0.0100% | 8h | 0.02728 | −0.034% | $9K | $188 | — | as long as short |
| SunX MERL-USDT | +0.0100% | 4h | 0.02735 | +0.220% | $1K | $1.0M | 20x | as long as short |
| Bybit MERLUSDTlong | +0.0108% | 8h | 0.02729 | long leg | $1.2M | $429K | 25x | |
| BingX MERL-USDT | +0.0166% | 4h | 0.02736 | +0.257% | — | $6.7M | — | as long as short |
Variational Omni MERL
SunX MERL-USDT
BingX MERL-USDT