Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0403%/8h= −44.1% APRpaid last 24h +0.060%

Price spread now: MEXC against Deribit−0.176%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on MEXC

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

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and MEXC is 0.176% cheaper against Deribit than usual: you would sell low and buy high (−$18 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	Deribit S_USDC-PERPETUAL	0.03987	0.0503	pay 0.0063% / 1h	39m 55s	$67K	$10K	10x
Short	MEXC S_USDT	0.03980	0.0100	get 0.0050% / 4h	3h 39m	$3.7M	$1.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$84.63
Price spread: −0.176% → 0.000%: −$17.56
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$113.19
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 2 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	1.25 bp	4.7 bp −$5	39.9 bp −$399	256.3 bp −$25.6K	doesn't fit

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.

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	−0.4800%	1h	0.03980	−0.176%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2029%	1h	0.03981	−0.147%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−4.038%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0898%	4h	0.03979	−0.204%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03983	−0.095%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03980	−0.166%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03983	−0.101%	$614	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03982	−0.125%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.834%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03985	−0.050%	$162K	$191K	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	0.03981	−0.163%	$996K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03985	−0.049%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03981	−0.163%	$5.5M	$16.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03973	−0.351%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03974	−0.326%	$983K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03984	−0.075%	$326K	$216K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.03980	−0.176%	$3.7M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03984	−0.075%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03982	−0.125%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03980	−0.176%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.075%	$116K	$317K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.426%	$26K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03974	−0.334%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03982	−0.125%	$268K	$126K	75x	as long as short
Deribit S_USDC-PERPETUALlong	+0.0503%	1h	0.03987	long leg	$67K	$10K	10x