Funding arb · Price arb /

WAL

all WAL markets

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 −0.065%

Price spread now: Bybit against MEXC+0.029%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1211.207% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now +0.029%, 7d avg +0.062%

Together, before fees−0.214%−$21 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 0.033% 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 +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WAL_USDT	0.03421	0.0100	pay 0.0050% / 4h	2h 53m	$582K	$279K	20x
Short	Bybit WALUSDT	0.03422	0.0100	get 0.0050% / 4h	2h 53m	$1.3M	$1.6M	25x

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 +0.029%Rate

Funding earned: $0
Price spread: +0.029% → +0.062%: −$3.32
Slippage, 4 orders: −$105.7
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$124.02
Costs to cover: 1.207%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Bybit: 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 MEXC live order book, 6 min ago	4.34 bp	11.5 bp −$11	64.5 bp −$645	283.0 bp −$28.3K	doesn't fit
Sell Bybit live order book, 2 min ago	5.86 bp	55.4 bp −$55	288.4 bp −$2,884	doesn't fit	doesn't fit

WAL 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
Binance WALUSDT	+0.0100%	4h	0.03421	+0.014%	$2.3M	$6.4M	75x	as long as short
Bybit WALUSDTshort	+0.0100%	4h	0.03422	+0.029%	$1.3M	$1.6M	25x
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03420	−0.029%	$217K	$899K	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03414	−0.205%	$290K	$449K	50x	as long as short
MEXC WAL_USDTlong	+0.0100%	4h	0.03421	long leg	$582K	$279K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03423	+0.058%	$341K	$70K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03422	+0.029%	$581K	$883K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03422	+0.029%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03412	−0.264%	$21K	$8K	—	as long as short
Bluefin WAL-PERP	+0.0289%	1h	0.03416	−0.146%	$32K	$764K	20x	as long as short