Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0784%/8h= −85.8% APRpaid last 24h −0.176%

Price spread now: Deribit against MEXC+0.051%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.051% dearer against MEXC than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01176	0.0100	pay 0.0050% / 4h	1h 36m	$12.8M	$1.4M	50x
Short	Deribit W_USDC-PERPETUAL	0.01177	−0.0684	pay 0.0085% / 1h	36m 42s	$17K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$164.56
Price spread: +0.051% → 0.000%: $5.1
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$170.46
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; Deribit: no order-book sample. Net counts fees only.

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, 2 min ago	2.97 bp	10.6 bp −$11	60.5 bp −$605	97.4 bp −$9,745	150.7 bp −$75.3K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALshort	−0.0684%	1h	0.01177	+0.051%	$17K	$1K	10x
OKX W-USDT-SWAP	−0.0028%	4h	0.01176	−0.017%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.762%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01178	+0.127%	$2.0M	$433K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01176	−0.053%	$3.0M	$7.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01175	−0.085%	$4.1M	$2.0M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01177	+0.008%	$446K	$291K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01176	long leg	$12.8M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01178	+0.127%	$483K	$245K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01177	+0.042%	$1.3M	$577K	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	0.01177	+0.051%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01176	−0.045%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	+0.050%	$129K	$419K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01176	−0.002%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01180	+0.340%	$14K	$18K	50x	as long as short
Backpack W_USDC_PERP	+0.0353%	1h	0.01178	+0.110%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.0397%	1h	0.01180	+0.262%	$146K	$185K	20x	as long as short