Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−2.3578%/8h= −2581.8% APRpaid last 24h −7.059%

Price spread now: Coinbase International against MEXC−10.464%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$707 a day on $10k at the current rate, and Coinbase International is 10.464% cheaper against MEXC than usual: you would sell low and buy high (−$1,046 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NIGHT_USDT	0.02435	0.0250	pay 0.0125% / 4h	1h 13m	$810K	$458K	100x
Short	Coinbase International NIGHT-PERP-INTX	0.02180	−2.3328	pay 0.2916% / 1h	13m 46s	$1K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −10.464%Rate

Funding earned: −$4,951.38
Price spread: −10.464% → 0.000%: −$1,046.41
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$6,011.79
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 42 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 42 min ago	2.07 bp	14.8 bp −$15	88.2 bp −$882	343.3 bp −$34.3K	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-INTXshort	−2.3328%	1h	0.02180	−10.464%	$1K	—	50x
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	0.000%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0098%	4h	0.02436	+0.041%	$287K	$42K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02434	−0.034%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02436	+0.041%	$5.4M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02434	−0.041%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02434	−0.033%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02434	−0.041%	$224K	$204K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02436	+0.052%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02435	0.000%	$652K	$399K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02434	−0.041%	$1K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02433	−0.082%	—	$6.6M	—	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0161%	1h	0.02435	+0.004%	$100	$99	10x	as long as short
MEXC NIGHT_USDTlong	+0.0250%	4h	0.02435	long leg	$810K	$458K	100x
Kraken Futures PF_NIGHTUSD	+0.5564%	1h	0.02444	+0.358%	$64K	$60K	25x	as long as short