Funding arb · Price arb /

S

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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 −0.001%

Price spread now: Bybit against MEXC−0.178%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.178%, 7d avg −0.080%

Together, before fees+0.183%+$18 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: Bybit is 0.097% cheaper against MEXC than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03933	0.0100	pay 0.0050% / 4h	2h 50m	$3.5M	$2.5M	200x
Short	Bybit SUSDT	0.03926	0.0100	get 0.0050% / 4h	2h 50m	$5.6M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.178%Rate

Funding earned: $0
Price spread: −0.178% → −0.080%: −$9.75
Slippage, 4 orders: −$49.36
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$74.11
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago	1.27 bp	3.4 bp −$3	31.6 bp −$316	1217.6 bp −$121.8K	doesn't fit
Sell Bybit live order book, 3 min ago	2.55 bp	25.5 bp −$25	74.9 bp −$749	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	−0.1453%	1h	0.03927	−0.141%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.721%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1204%	4h	0.03923	−0.254%	$610K	$38K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03936	+0.071%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.029%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0072%	1h	0.03930	−0.076%	$24K	$3K	5x	as long as short
Aster SUSDT	−0.0037%	4h	0.03938	+0.119%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0019%	4h	0.03934	+0.025%	$101K	$340K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03935	+0.049%	$606	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03938	+0.127%	$66K	$10K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.246%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0079%	4h	0.03931	−0.051%	$978K	$7.9M	20x	as long as short
Lighter S	+0.0096%	1h	0.03935	+0.051%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03933	−0.003%	$992K	$928K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03933	+0.004%	$5.4M	$24.9M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03926	−0.178%	$5.6M	$6.6M	50x
Gate S_USDT	+0.0100%	4h	0.03928	−0.127%	$321K	$291K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03933	long leg	$3.5M	$2.5M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03931	−0.051%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03932	−0.025%	$1.2M	$3.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03932	−0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.076%	$23K	$475K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03931	−0.052%	$221K	$883K	10x	as long as short
Backpack S_USDC_PERP	+0.0254%	1h	0.03940	+0.178%	$115K	$286K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03925	−0.203%	$273K	$179K	75x	as long as short