Funding arb · Price arb /

MTL

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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 0.000%

Price spread now: Binance against MEXC+0.041%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.041%, 7d avg +0.009%

Together, before fees−0.182%−$18 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: Binance is 0.032% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MTL_USDT	0.3099	0.0100	pay 0.0050% / 4h	1h 43m	$267K	$132K	50x
Short	Binance MTLUSDT	0.3100	0.0100	get 0.0050% / 4h	1h 43m	$1.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.009%: $3.21
Slippage, 4 orders: −$66.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.02
Costs to cover: 0.802%
Break-even: never at this rate

Slippage from MEXC: live order book, 30 min ago; Binance: live order book, 8 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, 30 min ago	1.61 bp	12.7 bp −$13	110.7 bp −$1,107	180.1 bp −$18.0K	doesn't fit
Sell Binance live order book, 8 min ago	1.62 bp	31.0 bp −$31	146.2 bp −$1,462	doesn't fit	doesn't fit

MTL on 9 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
BingX MTL-USDT	+0.0036%	4h	0.3099	0.000%	—	$1.3M	—	as long as short
Aster MTLUSDT	+0.0100%	1h	0.3099	+0.008%	$2K	$8K	5x	as long as short
Binance MTLUSDTshort	+0.0100%	4h	0.3100	+0.041%	$1.8M	$3.5M	50x
Gate MTL_USDT	+0.0100%	4h	0.3095	−0.129%	$166K	$37K	25x	as long as short
MEXC MTL_USDTlong	+0.0100%	4h	0.3099	long leg	$267K	$132K	50x
KuCoin MTLUSDTM	+0.0100%	4h	0.3096	−0.097%	$657K	$25K	30x	as long as short
Bitget MTLUSDT	+0.0100%	4h	0.3098	−0.032%	$342K	$93K	25x	as long as short
BloFin MTL-USDT	+0.0125%	4h	0.3101	+0.065%	$119K	$5K	50x	as long as short
Bybit MTLUSDT	+0.1092%	8h	0.3089	−0.323%	$1.0M	$687K	25x	as long as short