NIGHT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.75 per $10,000 · paid last 24h −0.046%

Price spread now: Bybit against MEXC−0.124%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1591.589% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.305%−$31 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.124%, 7d avg +0.062%

Together, before fees−0.139%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.186% cheaper against MEXC than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.062%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NIGHT_USDT	0.02413	0.0250	pay 0.0125% / 4h	27m 16s	$780K	$460K	100x
Short	Bybit NIGHTUSDT	0.02410	0.0100	get 0.0050% / 4h	27m 16s	$2.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$31.5
Price spread: −0.124% → +0.062%: −$18.62
Slippage, 4 orders: −$143.88
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$209
Costs to cover: 1.589%
Break-even: never at this rate

Slippage from MEXC: live order book, 23 min ago; Bybit: live order book, 4 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, 23 min ago	2.08 bp	14.2 bp −$14	80.0 bp −$800	321.8 bp −$32.2K	doesn't fit
Sell Bybit live order book, 4 min ago	2.07 bp	68.0 bp −$68	473.4 bp −$4,734	doesn't fit	doesn't fit

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	−9.648%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.912%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02414	+0.030%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02415	+0.083%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDTshort	+0.0100%	4h	0.02410	−0.124%	$2.0M	$1.0M	50x
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02412	−0.062%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02411	−0.083%	$222K	$199K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02414	+0.031%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02414	+0.041%	$646K	$393K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02412	−0.041%	$1K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0126%	4h	0.02410	−0.124%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0147%	4h	0.02415	+0.083%	$284K	$42K	50x	as long as short
MEXC NIGHT_USDTlong	+0.0250%	4h	0.02413	long leg	$780K	$460K	100x
Deribit NIGHT_USDC-PERPETUAL	+0.0579%	1h	0.02416	+0.108%	$99	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+1.8844%	1h	0.02438	+1.047%	$65K	$61K	25x	as long as short