Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: MEXC against Bybit+0.204%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$650.648% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 7 days−0.152%−$15 · spread now +0.204%, 7d avg +0.083%

Together, before fees−0.217%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.121% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03928	0.0100	pay 0.0050% / 4h	2h 37m	$5.6M	$4.4M	50x
Short	MEXC S_USDT	0.03936	0.0100	get 0.0050% / 4h	2h 37m	$3.6M	$1.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.083%: $12.12
Slippage, 4 orders: −$49.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$52.67
Costs to cover: 0.648%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; MEXC: 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 Bybit live order book, 5 min ago	2.54 bp	26.7 bp −$27	80.4 bp −$804	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.81 bp	5.9 bp −$6	62.0 bp −$620	266.9 bp −$26.7K	doesn't fit

S on 25 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
01 Exchange SUSD	−0.8432%	1h	0.03850	−1.986%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1854%	1h	0.03923	−0.117%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03919	−0.229%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03930	+0.053%	$1K	—	100x	as long as short
Variational Omni S	−0.0119%	4h	0.03931	+0.074%	$611K	$30K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03926	−0.059%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03929	+0.015%	$605	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.379%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03928	0.000%	$98K	$480K	10x	as long as short
Lighter S	+0.0096%	1h	0.03939	+0.280%	$167K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03934	+0.140%	$989K	$589K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03935	+0.187%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03935	+0.186%	$5.5M	$13.6M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03928	long leg	$5.6M	$4.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03932	+0.102%	$968K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03923	−0.127%	$319K	$183K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.03936	+0.204%	$3.6M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03933	+0.127%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03935	+0.178%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03931	+0.076%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.560%	$4K	$472K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03926	−0.039%	$221K	$594K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	−0.229%	$269K	$106K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0514%	1h	0.03932	+0.102%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1859%	1h	0.03940	+0.305%	$115K	$426K	5x	as long as short