NIGHT

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0162%/8h= −17.7% APRnext payment −$0.81 per $10,000 · paid last 24h −0.044%

Price spread now: OKX against MEXC−0.055%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

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

costs, in and out, $10k−$890.891% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.340%−$34 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.055%, 7d avg −0.034%

Together, before fees−0.276%−$28 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 OKX is 0.022% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NIGHT_USDT	0.02348	0.0262	pay 0.0131% / 4h	51m 16s	$915K	$295K	100x
Short	OKX NIGHT-USDT-SWAP	0.02347	0.0100	get 0.0050% / 4h	51m 16s	$1.5M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$34.02
Price spread: −0.055% → −0.034%: −$2.18
Slippage, 4 orders: −$75.1
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$125.3
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from MEXC: live order book, 48 min ago; OKX: 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, 48 min ago	2.12 bp	12.7 bp −$13	52.4 bp −$524	297.7 bp −$29.8K	doesn't fit
Sell OKX live order book, 4 min ago	1.06 bp	29.5 bp −$30	doesn't fit	doesn't fit	doesn't fit

NIGHT on 15 exchanges

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	−1.7496%	1h	0.02239	−4.651%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+3.705%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0090%	4h	0.02349	+0.043%	$267K	$41K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02349	+0.025%	$18K	$36K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02347	−0.026%	$5.1M	$4.6M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02349	+0.043%	$1.9M	$815K	50x	as long as short
OKX NIGHT-USDT-SWAPshort	+0.0100%	4h	0.02347	−0.055%	$1.5M	$1.5M	20x
Gate NIGHT_USDT	+0.0100%	8h	0.02348	0.000%	$213K	$173K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02350	+0.084%	$1.3M	$5.4M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02350	+0.085%	$650K	$371K	25x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02348	0.000%	$2K	$1.2M	20x	as long as short
BingX NIGHT-USDT	+0.0132%	4h	0.02348	0.000%	—	$6.6M	—	as long as short
MEXC NIGHT_USDTlong	+0.0262%	4h	0.02348	long leg	$915K	$295K	100x
Deribit NIGHT_USDC-PERPETUAL	+0.0474%	1h	0.02349	+0.055%	$96	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.5100%	1h	0.02364	+0.673%	$61K	$52K	25x	as long as short