Funding you earn now, next payment 00:00 UTC+0.4120%/8h= +451.1% APRnext payment +$20.60 per $10,000 · paid last 24h +0.504%
Price spread now: Bybit against MEXC−0.438%7-day average +0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$199as in the Price arb table
costs, in and out, $10k−$1461.465% of the position
Funding, last 7 days+0.555%+$55 on $10k
+Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.438%, 7d avg +0.083%
=Funding pays, the price is against you. Bybit is 0.521% cheaper against MEXC than usual: you would sell low and buy high (spread −0.438% now, against its 7-day average of +0.083%). If the spread goes back, that is −$52 on $10k: about 10 hours of funding at the current rate (+$124 a day). At the pace of the last 7 days (+0.555% in total) that is about 6.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.555% in total (about 28.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$20.60 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 | MEXC STEEM_USDT | 0.05707 | 0.0100 | pay 0.0050% / 4h | 2h 49m | $383K | $107K | 20x |
| Short | Bybit STEEMUSDT | 0.05682 | 0.4220 | get 0.2110% / 4h | 2h 49m | $1.3M | $962K | 13x |
MEXC STEEM_USDT
Bybit STEEMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against MEXC. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $865.22
- Price spread: −0.438% → +0.083%
- −$52.06
- Slippage, 4 orders
- −$127.47
- Fee MEXC: 4 bp × 2 orders
- −$8
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $666.69
- Costs to cover
- 1.465%
- Break-even
- 1.6 days
Slippage from MEXC: live order book, 33 min ago; Bybit: live order book, 1 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, 33 min ago | 0.87 bp | 9.9 bp −$10 | 81.2 bp −$812 | 142.5 bp −$14.3K | 500.9 bp −$250.5K |
| Sell Bybit live order book, 1 min ago | 1.76 bp | 62.9 bp −$63 | 860.9 bp −$8,609 | doesn't fit | doesn't fit |
STEEM on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_STEEMUSD | −0.0638% | 1h | 0.05711 | +0.066% | $9K | $2K | 10x | as long as short |
| HTX STEEM-USDT | −0.0249% | 4h | 0.05703 | −0.070% | $40K | $32K | 20x | as long as short |
| BingX STEEM-USDT | +0.0070% | 4h | 0.05698 | −0.158% | — | $1.7M | — | as long as short |
| Aster STEEMUSDT | +0.0100% | 4h | 0.05713 | +0.102% | $16K | $9K | 5x | as long as short |
| Binance STEEMUSDT | +0.0100% | 4h | 0.05705 | −0.035% | $2.1M | $3.3M | 25x | as long as short |
| MEXC STEEM_USDTlong | +0.0100% | 4h | 0.05707 | long leg | $383K | $107K | 20x | |
| KuCoin STEEMUSDTM | +0.0100% | 4h | 0.05708 | +0.018% | $413K | $86K | 30x | as long as short |
| Bitget STEEMUSDT | +0.0100% | 4h | 0.05707 | 0.000% | $440K | $222K | 25x | as long as short |
| Gate STEEM_USDT | +0.1282% | 4h | 0.05716 | +0.158% | $286K | $117K | 20x | as long as short |
| Variational Omni STEEM | +0.3447% | 4h | 0.05682 | −0.446% | $12K | $147 | — | as long as short |
Kraken Futures PF_STEEMUSD
HTX STEEM-USDT
BingX STEEM-USDT
Aster STEEMUSDT
Binance STEEMUSDT
KuCoin STEEMUSDTM
Bitget STEEMUSDT
Gate STEEM_USDT
Variational Omni STEEMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit STEEMUSDTshort | +0.4220% | 4h | 0.05682 | −0.438% | $1.3M | $962K | 13x |