Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0568%/8h= +62.2% APRpaid last 24h +0.016%

Price spread now: Derive against MEXC−0.020%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Derive is 0.020% cheaper against MEXC than usual: you would sell low and buy high (spread −0.020% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CC_USDT	0.1173	−0.0468	get 0.0234% / 4h	2h 31m	$1.8M	$333K	100x
Short	Derive CC-PERP	0.1172	0.0100	get 0.0013% / 1h	31m 34s	$6K	$33K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.020%Rate

Funding earned: $119.28
Price spread: −0.020% → 0.000%: −$2.03
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Derive: 3 bp × 2 orders: −$6
Net: $107.25
Costs to cover: 0.100%
Break-even: 0.7 days

Slippage unknown: MEXC: live order book, 5 min ago; Derive: no order-book sample. Net counts fees only.

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, 5 min ago	0.43 bp	6.7 bp −$7	48.4 bp −$484	257.3 bp −$25.7K	790.6 bp −$395.3K
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CC on 19 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
Bybit CCUSDT	−0.0487%	4h	0.1173	+0.026%	$10.7M	$3.8M	25x	as long as short
MEXC CC_USDTlong	−0.0468%	4h	0.1173	long leg	$1.8M	$333K	100x
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.631%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0083%	8h	0.1173	+0.016%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1175	+0.226%	$5.5M	$1.3M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1174	+0.128%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1173	+0.043%	$11.0M	$11.8M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1173	+0.068%	$2.5M	$3.1M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1173	+0.051%	$364K	$206K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1174	+0.102%	$484K	$104K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1173	+0.077%	$918K	$769K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1173	+0.034%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1173	+0.043%	$15K	$23K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1176	+0.253%	$599K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1173	+0.068%	$83K	$2.7M	10x	as long as short
Derive CC-PERPshort	+0.0100%	1h	0.1172	−0.020%	$6K	$33K	6.7x
BloFin CC-USDT	+0.0340%	4h	0.1173	+0.017%	$596K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0450% / S −0.0241%	1h	0.1174	+0.126%	$44K	—	50x	as long as short
Lighter CC	+0.0664%	1h	0.1178	+0.478%	$252K	$170K	5x	as long as short