Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0994%/8h= +108.9% APRpaid last 24h +0.017%

Price spread now: Deribit against MEXC−0.146%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Deribit is 0.146% cheaper against MEXC than usual: you would sell low and buy high (spread −0.146% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 12 hours of funding at the current rate (+$30 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NIGHT_USDT	0.02404	0.0216	pay 0.0108% / 4h	1h 58m	$773K	$451K	100x
Short	Deribit NIGHT_USDC-PERPETUAL	0.02400	0.1210	get 0.0151% / 1h	58m 36s	$98	$99	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.146%Rate

Funding earned: $208.77
Price spread: −0.146% → 0.000%: −$14.56
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $183.21
Costs to cover: 0.110%
Break-even: 0.9 days

Slippage unknown: MEXC: live order book, 42 min ago; Deribit: 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	2.09 bp	11.8 bp −$12	64.0 bp −$640	330.5 bp −$33.0K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-INTX	−2.1536%	1h	0.02239	−6.872%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+1.290%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02400	−0.179%	$16K	$41K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02400	−0.174%	$5.2M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02404	0.000%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02404	+0.008%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02401	−0.125%	$219K	$217K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02399	−0.189%	$1.3M	$5.3M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02402	−0.083%	$650K	$439K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02398	−0.250%	$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	0.02404	0.000%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0148%	4h	0.02401	−0.125%	$276K	$44K	50x	as long as short
MEXC NIGHT_USDTlong	+0.0216%	4h	0.02404	long leg	$773K	$451K	100x
Deribit NIGHT_USDC-PERPETUALshort	+0.1210%	1h	0.02400	−0.146%	$98	$99	10x
Kraken Futures PF_NIGHTUSD	+0.5810%	1h	0.02402	−0.080%	$64K	$61K	25x	as long as short