Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against MEXC−0.119%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.119%, 7d avg −0.093%

Together, before fees−0.012%−$1 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: Bybit is 0.026% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01172	0.0100	pay 0.0050% / 4h	2h 48m	$12.8M	$1.7M	50x
Short	Bybit WUSDT	0.01170	0.0100	get 0.0050% / 4h	2h 48m	$4.1M	$2.1M	50x

Funding 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 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 BybitbpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → −0.093%: −$2.64
Slippage, 4 orders: −$55.36
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bybit: live order book, 4 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	0.85 bp	5.9 bp −$6	51.8 bp −$518	92.3 bp −$9,234	143.8 bp −$71.9K
Sell Bybit live order book, 4 min ago	6.41 bp	27.4 bp −$27	156.0 bp −$1,560	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0772%	1h	0.01172	+0.060%	$17K	$790	10x	as long as short
OKX W-USDT-SWAP	−0.0004%	4h	0.01171	−0.051%	$1.3M	$2.2M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.183%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01172	+0.026%	$2.0M	$466K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01171	−0.021%	$2.9M	$7.7M	50x	as long as short
Bybit WUSDTshort	+0.0100%	4h	0.01170	−0.119%	$4.1M	$2.1M	50x
Gate W_USDT	+0.0100%	4h	0.01170	−0.145%	$443K	$300K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01172	long leg	$12.8M	$1.7M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01170	−0.145%	$420K	$221K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01174	+0.196%	$1.3M	$555K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01171	−0.077%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01174	+0.154%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01170	−0.128%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	+0.014%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	−0.042%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01179	+0.589%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0620%	1h	0.01174	+0.229%	$145K	$186K	20x	as long as short