Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−1.1036%/8h= −1208.4% APRpaid last 24h −2.214%

Price spread now: 01 Exchange against MEXC−3.832%56s7-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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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 −$331 a day on $10k at the current rate, and 01 Exchange is 3.832% cheaper against MEXC than usual: you would sell low and buy high (−$383 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 56 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	0.04097	0.0100	pay 0.0050% / 4h	1h 38m	$3.9M	$1.8M	200x
Short	01 Exchange SUSD	0.03940	−1.0936	pay 0.1367% / 1h	38m 42s	$24K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −3.832%Rate

Funding earned: −$2,317.56
Price spread: −3.832% → 0.000%: −$383.21
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$2,711.77
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 9 min ago; 01 Exchange: 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, 9 min ago	1.22 bp	4.4 bp −$4	57.3 bp −$573	262.0 bp −$26.2K	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 SUSDshort	−1.0936%	1h	0.03940	−3.832%	$24K	$2K	5x
Kraken Futures PF_SUSD	−0.1679%	1h	0.04092	−0.111%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.831%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0307%	4h	0.04079	−0.447%	$635K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04097	+0.010%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04096	−0.017%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04097	+0.009%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.073%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.04096	−0.024%	$102K	$332K	10x	as long as short
Lighter S	+0.0096%	1h	0.04102	+0.122%	$171K	$156K	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	0.04100	+0.085%	$1.0M	$553K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04098	+0.014%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04098	+0.015%	$5.7M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04092	−0.122%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04095	−0.049%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04094	−0.073%	$336K	$200K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.04097	long leg	$3.9M	$1.8M	200x
KuCoin SUSDTM	+0.0100%	4h	0.04092	−0.122%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04098	+0.024%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04094	−0.073%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04100	+0.073%	$25K	$447K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04094	−0.082%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04101	+0.098%	$281K	$111K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0726%	1h	0.04101	+0.098%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1545%	1h	0.04110	+0.317%	$121K	$363K	5x	as long as short