Funding you earn now, next payment 12:00 UTC+0.0216%/8h= +23.7% APRnext payment +$1.08 per $10,000 · paid last 24h +0.005%
Price spread now: MEXC against Bybit−0.086%7-day average −0.045% · 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−$49as in the Price arb table
costs, in and out, $10k−$450.452% of the position
Funding, last 7 days+0.063%+$6 on $10k
+Price spread, last 7 days+0.051%+$5 · spread now −0.086%, 7d avg −0.045%
=Funding pays, the price is against you. MEXC is 0.041% cheaper against Bybit than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of −0.045%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.063% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.063% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.08 per $10,000. 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 ETHFIUSDT | 0.6945 | −0.0200 | get 0.0100% / 4h | 3h 28m | $17.0M | $13.0M | 25x |
| Short | MEXC ETHFI_USDT | 0.6939 | 0.0016 | get 0.0008% / 4h | 3h 28m | $15.8M | $4.2M | 125x |
Bybit ETHFIUSDT
MEXC ETHFI_USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $45.38
- Price spread: −0.086% → −0.045%
- −$4.12
- Slippage, 4 orders
- −$30.25
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$3.99
- Costs to cover
- 0.452%
- Break-even
- 7.6 days
Slippage from Bybit: live order book, just now; MEXC: live order book, 5 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, just now | 0.72 bp | 17.6 bp −$18 | 41.7 bp −$417 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 0.72 bp | 4.4 bp −$4 | 17.1 bp −$171 | 59.5 bp −$5,948 | 170.0 bp −$85.0K |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX ETHFI-USDT | −0.0355% | 4h | 0.6924 | −0.302% | $82K | $150K | 20x | as long as short |
| Deribit ETHFI_USDC-PERPETUAL | −0.0326% | 1h | 0.6937 | −0.115% | $41K | $12K | 10x | as long as short |
| Variational Omni ETHFI | −0.0280% | 4h | 0.6935 | −0.139% | $925K | $795K | — | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0280% | 4h | 0.6934 | −0.158% | $16K | $1K | 10x | as long as short |
| Bybit ETHFIUSDTlong | −0.0200% | 4h | 0.6945 | long leg | $17.0M | $13.0M | 25x | |
| Paradex ETHFI-USD-PERP | −0.0094% | 8h | 0.6925 | −0.291% | $6K | — | 5x | as long as short |
| MEXC ETHFI_USDTshort | +0.0016% | 4h | 0.6939 | −0.086% | $15.8M | $4.2M | 125x | |
| Binance ETHFIUSDT | +0.0021% | 4h | 0.6943 | −0.028% | $24.3M | $35.9M | 75x | as long as short |
| Extended ETHFI-USD | +0.0024% | 1h | 0.6942 | −0.044% | $94K | $507K | 10x | as long as short |
| Aster ETHFIUSDT | +0.0027% | 4h | 0.6942 | −0.049% | $178K | $230K | 10x | as long as short |
HTX ETHFI-USDT
Deribit ETHFI_USDC-PERPETUAL
Variational Omni ETHFI
Orderly PERP_ETHFI_USDC
Paradex ETHFI-USD-PERP
Binance ETHFIUSDT
Extended ETHFI-USD
Aster ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.248% | $321 | $51K | 5.5x | as long as short |
| BloFin ETHFI-USDT | +0.0070% | 4h | 0.6931 | −0.202% | $1.2M | $231K | 75x | as long as short |
| Aevo ETHFI-PERP | +0.0088% | 1h | 0.6941 | −0.052% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6945 | +0.006% | $1.1M | $833K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6945 | −0.004% | $16.6M | $8.6M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6947 | +0.029% | $5.1M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6945 | 0.000% | $1.7M | $1.9M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6935 | −0.144% | $1.1M | $212K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6943 | −0.029% | $6.1M | $4.3M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.6945 | 0.000% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6937 | −0.115% | $52K | $149K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6933 | −0.173% | $2K | $1.1M | 20x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0336% | 1h | 0.7020 | +1.080% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0869% | 1h | 0.6950 | +0.076% | $292K | $288K | 20x | as long as short |
Injective ETHFI/USDC PERP
BloFin ETHFI-USDT
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Coinbase International ETHFI-PERP-INTX
Kraken Futures PF_ETHFIUSD