Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.045%

Price spread now: Bybit against MEXC−0.058%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.058%, 7d avg −0.003%

Together, before fees−0.016%−$2 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 Bybit is 0.054% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GBP_USDT	1.3385	0.0150	pay 0.0075% / 4h	3h 22m	$26.0M	$259K	100x
Short	Bybit GBPUSDUSDT	1.3377	0	get 0.0000% / 8h	3h 22m	$245K	$69K	100x

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 −0.058%Rate

Funding earned: −$31.5
Price spread: −0.058% → −0.003%: −$5.43
Slippage, 4 orders: −$19.79
Fee MEXC: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.73
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: live order book, 13 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, 1 min ago	1.12 bp	5.1 bp −$5	5.7 bp −$57	7.3 bp −$726	64.3 bp −$32.1K
Sell Bybit live order book, 13 min ago	1.23 bp	6.9 bp −$7	28.6 bp −$286	doesn't fit	doesn't fit

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
Nado GBPUSD-PERP	−0.0065%	1h	1.3388	+0.025%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBP	0.0000%	1h	1.3386	+0.007%	$233K	$342K	50x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3384	−0.009%	$181K	$999K	50x	as long as short
Bybit GBPUSDUSDTshort	0.0000%	8h	1.3377	−0.058%	$245K	$69K	100x
Gate GBPUSD_USDT	0.0000%	8h	1.3387	+0.015%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3385	0.000%	$12K	$13K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3385	0.000%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3379	−0.042%	$991	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3371	−0.105%	$5K	$333K	20x	as long as short
Vest GBP-USD-PERP	+0.0038%	1h	1.3376	−0.065%	—	$38K	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_USDTlong	+0.0150%	4h	1.3385	long leg	$26.0M	$259K	100x
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3600	+1.608%	$11K	$73K	101x	as long as short
Hibachi GBP/USDT-P	+0.0368%	1h	1.3389	+0.027%	$19K	$34K	20x	as long as short