SHELL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0436%/8h= −47.8% APRnext payment −$2.18 per $10,000 · paid last 24h −0.002%

Price spread now: MEXC against Bybit−0.037%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$266as in the Price arb table

costs, in and out, $10k−$2692.686% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.037%, 7d avg −0.062%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.025% dearer against Bybit than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.062%): +$2 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.188% in total) that is about 22 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.18 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SHELLUSDT	0.02701	0.0562	pay 0.0281% / 4h	1h 49m	$509K	$216K	13x
Short	MEXC SHELL_USDT	0.02700	0.0126	get 0.0063% / 4h	1h 49m	$280K	$143K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$91.63
Price spread: −0.037% → −0.062%: $2.49
Slippage, 4 orders: −$253.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$357.76
Costs to cover: 2.686%
Break-even: never at this rate

Slippage from Bybit: live order book, 51 min ago; MEXC: live order book, 41 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 Bybit live order book, 51 min ago	9.20 bp	128.3 bp −$128	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 41 min ago	3.72 bp	15.4 bp −$15	84.7 bp −$847	160.4 bp −$16.0K	427.7 bp −$213.9K

SHELL on 10 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
Aster SHELLUSDT	+0.0100%	4h	0.02699	−0.074%	$1K	$10K	5x	as long as short
OKX SHELL-USDT-SWAP	+0.0100%	4h	0.02711	+0.370%	$171K	$462K	10x	as long as short
Gate SHELL_USDT	+0.0100%	4h	0.02708	+0.259%	$411K	$207K	10x	as long as short
KuCoin SHELLUSDTM	+0.0100%	4h	0.02704	+0.111%	$342K	$35K	10x	as long as short
Variational Omni SHELL	+0.0100%	4h	0.02693	−0.294%	$1K	$1K	—	as long as short
MEXC SHELL_USDTshort	+0.0126%	4h	0.02700	−0.037%	$280K	$143K	50x
Binance SHELLUSDT	+0.0127%	4h	0.02702	+0.052%	$2.1M	$2.9M	10x	as long as short
Bybit SHELLUSDTlong	+0.0562%	4h	0.02701	long leg	$509K	$216K	13x
BingX SHELL-USDT	+0.1130%	4h	0.02705	+0.148%	—	$6.5M	—	as long as short
Bitget SHELLUSDT	+0.1220%	4h	0.02706	+0.185%	$568K	$247K	10x	as long as short