Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.312%7-day average +0.230% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1621.617% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now +0.312%, 7d avg +0.230%

Together, before fees−0.169%−$17 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: MEXC is 0.081% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.230%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SQDUSDT	0.02888	0.0100	pay 0.0050% / 4h	1h 15m	$893K	$376K	20x
Short	MEXC SQD_USDT	0.02897	0.0100	get 0.0050% / 4h	1h 15m	$5.9M	$181K	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 +0.312%Rate

Funding earned: $0
Price spread: +0.312% → +0.230%: $8.13
Slippage, 4 orders: −$146.67
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$153.54
Costs to cover: 1.617%
Break-even: never at this rate

Slippage from Bybit: live order book, 45 min ago; MEXC: live order book, 2 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, 45 min ago	6.95 bp	50.4 bp −$50	1656.4 bp −$16.6K	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	3.45 bp	32.3 bp −$32	83.0 bp −$830	257.6 bp −$25.8K	doesn't fit

SQD 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 SQDUSDT	+0.0100%	4h	0.02896	+0.276%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02897	+0.296%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTlong	+0.0100%	4h	0.02888	long leg	$893K	$376K	20x
Gate SQD_USDT	+0.0100%	4h	0.02891	+0.104%	$609K	$31K	20x	as long as short
MEXC SQD_USDTshort	+0.0100%	4h	0.02897	+0.312%	$5.9M	$181K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02893	+0.173%	$405K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02892	+0.139%	$740K	$57K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02892	+0.139%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02892	+0.136%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0141%	4h	0.02902	+0.485%	$82K	$41K	50x	as long as short