Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.045%

Price spread now: MEXC against SunX−0.044%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2082.081% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 3 days (all we have)+0.074%+$7 · spread now −0.044%, 7d avg +0.002%

Together, before fees−0.258%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.045% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX EURUSD-USDT	1.1471	0	get 0.0000% / 1h	19m 17s	—	$2.6M	10x
Short	MEXC EUR_USDT	1.1466	−0.0126	pay 0.0063% / 4h	19m 17s	$6.8M	$153K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SunX. 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 SunXbpFee MEXCbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$26.46
Price spread: −0.044% → +0.002%: −$4.52
Slippage, 4 orders: −$192.13
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$239.11
Costs to cover: 2.081%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; MEXC: live order book, 3 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 SunX live order book, 8 min ago	81.07 bp	98.8 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.44 bp	4.9 bp −$5	5.7 bp −$57	27.8 bp −$2,776	114.5 bp −$57.2K

EUR on 18 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
MEXC EUR_USDTshort	−0.0126%	4h	1.1466	−0.044%	$6.8M	$153K	100x
Kraken Futures PF_EURUSD	−0.0095%	1h	1.1463	−0.066%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1471	−0.002%	$584K	$279K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1477	+0.052%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1472	+0.009%	$250K	$26K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1463	−0.070%	$198K	$111K	50x	as long as short
SunX EURUSD-USDTlong	0.0000%	1h	1.1471	long leg	—	$2.6M	10x
HTX EURUSD-USDT	0.0000%	1h	1.1473	+0.017%	$12K	$258K	20x	as long as short
Nado EURUSD-PERP	+0.0009%	1h	1.1465	−0.048%	$466K	$265K	40x	as long as short
Lighter EURUSD	+0.0016%	1h	1.1475	+0.037%	$2.1M	$534K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1463	−0.066%	$6.7M	$1.8M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	−0.005%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1495	+0.210%	—	$287K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1464	−0.059%	$190K	$146K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1475	+0.031%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0112%	1h	1.1473	+0.017%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0187%	1h	1.1471	0.000%	$23.2M	$2.4M	50x	as long as short
Hibachi EUR/USDT-P	+0.0200%	1h	1.1467	−0.037%	$169K	$8.4M	30x	as long as short