Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: MEXC against BloFin−0.084%49s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1121.124% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.084%, 7d avg −0.015%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.068% cheaper against BloFin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin INIT-USDT	0.08363	0.0100	pay 0.0050% / 4h	14m 21s	$153K	$44K	25x
Short	MEXC INIT_USDT	0.08356	0.0100	get 0.0050% / 4h	14m 21s	$443K	$171K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BloFin. 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 BloFinbpFee MEXCbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0.01
Price spread: −0.084% → −0.015%: −$6.82
Slippage, 4 orders: −$96.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$119.18
Costs to cover: 1.124%
Break-even: 61883.6 days

Slippage from BloFin: live order book, 55 min ago; MEXC: live order book, 11 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 BloFin live order book, 55 min ago	2.97 bp	25.7 bp −$26	69.3 bp −$693	doesn't fit	doesn't fit
Sell MEXC live order book, 11 min ago	2.99 bp	13.8 bp −$14	72.4 bp −$724	228.8 bp −$22.9K	doesn't fit

INIT 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
Kraken Futures PF_INITUSD	−0.0245%	1h	0.08352	−0.134%	$5K	$17K	10x	as long as short
BloFin INIT-USDTlong	+0.0100%	4h	0.08363	long leg	$153K	$44K	25x
Hyperliquid INIT	+0.0100%	1h	0.08354	−0.110%	$310K	$140K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08370	+0.086%	$28K	$8K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08353	−0.124%	$3.4M	$2.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08350	−0.155%	$1.4M	$1.2M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08358	−0.060%	$140K	$480K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08353	−0.120%	$82K	$21K	25x	as long as short
MEXC INIT_USDTshort	+0.0100%	4h	0.08356	−0.084%	$443K	$171K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08367	+0.048%	$325K	$39K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08342	−0.251%	$434K	$230K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08351	−0.143%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08345	−0.213%	$26K	$10K	—	as long as short