Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC+0.104%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1161.158% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.142%−$14 · spread now +0.104%, 7d avg −0.003%

Together, before fees−0.142%−$14 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: Binance is 0.107% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02892	0.0100	pay 0.0050% / 4h	1h 37m	$5.9M	$181K	50x
Short	Binance SQDUSDT	0.02895	0.0100	get 0.0050% / 4h	1h 37m	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → −0.003%: $10.71
Slippage, 4 orders: −$101.77
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$105.06
Costs to cover: 1.158%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Binance: live order book, 10 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, 5 min ago	3.46 bp	20.9 bp −$21	77.8 bp −$778	270.0 bp −$27.0K	doesn't fit
Sell Binance live order book, 10 min ago	1.74 bp	26.8 bp −$27	123.7 bp −$1,237	doesn't fit	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
BloFin SQD-USDT	+0.0060%	4h	0.02891	−0.035%	$80K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02888	−0.134%	$15K	$1K	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02895	+0.104%	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02883	−0.311%	$894K	$343K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02883	−0.311%	$608K	$28K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02892	long leg	$5.9M	$181K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02885	−0.242%	$399K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02888	−0.138%	$740K	$55K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02889	−0.104%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02876	−0.536%	$7K	$33K	—	as long as short