Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1444%/8h= −158.1% APRpaid last 24h −0.579%

Price spread now: Coinbase International against MEXC−0.683%51s7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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 −$43 a day on $10k at the current rate, and Coinbase International is 0.683% cheaper against MEXC than usual: you would sell low and buy high (−$68 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03954	0.0100	pay 0.0050% / 4h	3h 10m	$3.6M	$1.7M	200x
Short	Coinbase International S-PERP-INTX	0.03927	−0.1344	pay 0.0168% / 1h	10m 32s	$48K	$16K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.683%Rate

Funding earned: −$303.24
Price spread: −0.683% → 0.000%: −$68.29
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$385.53
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; Coinbase International: no order-book sample. 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 MEXC live order book, 2 min ago	1.26 bp	5.8 bp −$6	68.9 bp −$689	262.3 bp −$26.2K	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.5096%	1h	0.03840	−2.883%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2256%	1h	0.03948	−0.159%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTXshort	−0.1344%	1h	0.03927	−0.683%	$48K	$16K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03956	+0.056%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03953	−0.037%	$4	—	15x	as long as short
Variational Omni S	−0.0047%	4h	0.03947	−0.183%	$613K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03956	+0.051%	$610	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.692%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0082%	4h	0.03958	+0.101%	$98K	$294K	10x	as long as short
Lighter S	+0.0096%	1h	0.03959	+0.126%	$167K	$157K	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	0.03954	+0.003%	$991K	$590K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03958	+0.092%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03954	0.000%	$5.5M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03948	−0.152%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03953	−0.025%	$982K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03958	+0.101%	$322K	$191K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03954	long leg	$3.6M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03951	−0.076%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03959	+0.126%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03953	−0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	+0.405%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03952	−0.047%	$224K	$593K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03967	+0.329%	$273K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0761%	1h	0.03962	+0.202%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1416%	1h	0.03960	+0.152%	$115K	$424K	5x	as long as short