NIGHT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0118%/8h= −12.9% APRnext payment −$0.59 per $10,000 · paid last 24h −0.038%

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

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$880.880% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.244%−$24 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.041%, 7d avg −0.009%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.032% cheaper against MEXC than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NIGHT_USDT	0.02423	0.0238	pay 0.0119% / 4h	2h 50m	$856K	$458K	100x
Short	BingX NIGHT-USDT	0.02422	0.0120	get 0.0060% / 4h	2h 50m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$24.78
Price spread: −0.041% → −0.009%: −$3.23
Slippage, 4 orders: −$73.97
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$115.98
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from MEXC: live order book, 10 min ago; BingX: live order book, 15 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, 10 min ago	4.14 bp	19.6 bp −$20	84.4 bp −$844	352.0 bp −$35.2K	doesn't fit
Sell BingX live order book, 15 min ago	6.16 bp	27.9 bp −$28	95.1 bp −$951	975.3 bp −$97.5K	1340.2 bp −$670.1K

NIGHT 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 NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.021%	$1K	—	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.1288%	1h	0.02433	+0.421%	$64K	$61K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.495%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0056%	4h	0.02412	−0.454%	$288K	$42K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02417	−0.232%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02423	−0.018%	$5.4M	$6.6M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02425	+0.083%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02421	−0.103%	$1.6M	$1.8M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02420	−0.124%	$223K	$200K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02423	−0.019%	$1.4M	$5.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NIGHTUSDT	+0.0100%	4h	0.02426	+0.124%	$649K	$399K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02414	−0.371%	$1K	$1.9M	20x	as long as short
BingX NIGHT-USDTshort	+0.0120%	4h	0.02422	−0.041%	—	$6.6M	—
MEXC NIGHT_USDTlong	+0.0238%	4h	0.02423	long leg	$856K	$458K	100x
Deribit NIGHT_USDC-PERPETUAL	+0.1074%	1h	0.02420	−0.140%	$99	$99	10x	as long as short