Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0405%/8h= −44.3% APRpaid last 24h +0.054%

Price spread now: MEXC against Bybit−0.193%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.235%+$23 · spread now −0.193%, 7d avg +0.003%

Together, before fees+0.253%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and MEXC is 0.196% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GBPUSDUSDT	1.3375	0.0559	pay 0.0559% / 8h	7h 40m	$270K	$20K	100x
Short	MEXC GBP_USDT	1.3349	0.0154	get 0.0077% / 4h	3h 40m	$26.0M	$253K	100x

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 −0.193%Rate

Funding earned: −$84.98
Price spread: −0.193% → +0.003%: −$19.59
Slippage, 4 orders: −$8.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$131.72
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Bybit: live order book, 39 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 Bybit live order book, 39 min ago	0.04 bp	12.1 bp −$12	45.9 bp −$459	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.75 bp	4.7 bp −$5	4.7 bp −$47	6.0 bp −$597	33.3 bp −$16.7K

GBP on 13 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
Hibachi GBP/USDT-P	−0.0064%	1h	1.3347	−0.210%	$22K	$45K	20x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3343	−0.236%	$192K	$982K	50x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3347	−0.208%	$12K	$8K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3349	−0.193%	—	$2.3M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3341	−0.250%	$989	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3361	−0.103%	$5K	$335K	20x	as long as short
Nado GBPUSD-PERP	+0.0011%	1h	1.3349	−0.197%	$16K	$1K	40x	as long as short
Vest GBP-USD-PERP	+0.0039%	1h	1.3338	−0.272%	—	$5K	100x	as long as short
tradeXYZ xyz:GBP	+0.0047%	1h	1.3350	−0.185%	$248K	$354K	50x	as long as short
Gate GBPUSD_USDT	+0.0100%	8h	1.3376	+0.009%	$223K	$10K	100x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GBP_USDTshort	+0.0154%	4h	1.3349	−0.193%	$26.0M	$253K	100x
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3504	+0.963%	$11K	$72K	101x	as long as short
Bybit GBPUSDUSDTlong	+0.0559%	8h	1.3375	long leg	$270K	$20K	100x