Funding arb · Price arb /

XAI

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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 0.000%

Price spread now: MEXC against Bybit+0.038%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1521.516% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now +0.038%, 7d avg −0.033%

Together, before fees+0.293%+$29 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: MEXC is 0.071% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAIUSDT	0.007986	0.0100	pay 0.0050% / 4h	1h 32m	$656K	$421K	25x
Short	MEXC XAI_USDT	0.007989	0.0100	get 0.0050% / 4h	1h 32m	$2.0M	$442K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → −0.033%: $7.1
Slippage, 4 orders: −$140.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$144.53
Costs to cover: 1.516%
Break-even: never at this rate

Slippage from Bybit: live order book, 23 min ago; MEXC: 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 Bybit live order book, 23 min ago	4.39 bp	68.0 bp −$68	820.4 bp −$8,204	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.13 bp	8.8 bp −$9	58.6 bp −$586	493.4 bp −$49.3K	doesn't fit

XAI 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 XAI-USDT	+0.0078%	4h	0.007969	−0.213%	$159K	$20K	25x	as long as short
Hyperliquid XAI	+0.0100%	1h	0.007990	+0.050%	$409K	$67K	3x	as long as short
Aster XAIUSDT	+0.0100%	4h	0.007984	−0.029%	$5K	$19K	5x	as long as short
Binance XAIUSDT	+0.0100%	4h	0.007995	+0.113%	$1.6M	$2.1M	25x	as long as short
Bybit XAIUSDTlong	+0.0100%	4h	0.007986	long leg	$656K	$421K	25x
Gate XAI_USDT	+0.0100%	4h	0.007980	−0.075%	$81K	$45K	50x	as long as short
MEXC XAI_USDTshort	+0.0100%	4h	0.007989	+0.038%	$2.0M	$442K	50x
KuCoin XAIUSDTM	+0.0100%	4h	0.007980	−0.075%	$178K	$46K	25x	as long as short
Bitget XAIUSDT	+0.0100%	4h	0.007987	+0.013%	$444K	$262K	25x	as long as short
BingX XAI-USDT	+0.0100%	4h	0.007989	+0.038%	—	$2.3M	—	as long as short