Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against MEXC0.000%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days+0.113%+$11 · spread now 0.000%, 7d avg +0.035%

Together, before fees+0.126%+$13 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: Bitget is 0.035% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03966	0.0100	pay 0.0050% / 4h	2h 58m	$3.7M	$2.5M	200x
Short	Bitget SUSDT	0.03966	0.0100	get 0.0050% / 4h	2h 58m	$1.2M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.035%: −$3.52
Slippage, 4 orders: −$38.1
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$57.62
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bitget: 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, 4 min ago	1.26 bp	3.7 bp −$4	74.8 bp −$748	275.5 bp −$27.5K	doesn't fit
Sell Bitget live order book, 4 min ago	6.29 bp	21.0 bp −$21	53.4 bp −$534	doesn't fit	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
Kraken Futures PF_SUSD	−0.1440%	1h	0.03964	−0.052%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−3.530%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1185%	4h	0.03967	+0.014%	$618K	$48K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03974	+0.207%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03965	−0.036%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0088%	1h	0.03970	+0.101%	$24K	$3K	5x	as long as short
Hyperliquid S	−0.0025%	1h	0.03966	−0.003%	$1.0M	$971K	5x	as long as short
Orderly PERP_S_USDC	−0.0021%	4h	0.03969	+0.076%	$102K	$339K	10x	as long as short
Aster SUSDT	−0.0016%	4h	0.03973	+0.178%	$44K	$212K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03970	+0.102%	$612	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit S_USDC-PERPETUAL	+0.0002%	1h	0.03975	+0.227%	$67K	$10K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.379%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0057%	4h	0.03964	−0.050%	$985K	$8.3M	20x	as long as short
Lighter S	+0.0096%	1h	0.03975	+0.227%	$167K	$240K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03967	+0.034%	$5.4M	$25.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03961	−0.126%	$5.7M	$6.8M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03963	−0.076%	$324K	$290K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03966	long leg	$3.7M	$2.5M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03965	−0.025%	$1.9M	$3.1M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.03966	0.000%	$1.2M	$3.2M	50x
BingX S-USDT	+0.0100%	4h	0.03966	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03980	+0.353%	$26K	$476K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03967	+0.033%	$223K	$890K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03974	+0.202%	$275K	$204K	75x	as long as short
Backpack S_USDC_PERP	+0.0884%	1h	0.03980	+0.353%	$116K	$288K	5x	as long as short