Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance−0.222%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$900.899% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+0.175%+$18 · spread now −0.222%, 7d avg −0.076%

Together, before fees+0.120%+$12 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 0.146% cheaper against Binance than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1519	0.0100	pay 0.0050% / 4h	1h 52m	$3.0M	$6.5M	50x
Short	MEXC IO_USDT	0.1516	0.0100	get 0.0050% / 4h	1h 52m	$1.2M	$221K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Binance. 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 BinancebpFee MEXCbpOrdersPrice spread, now −0.222%Rate

Funding earned: $0
Price spread: −0.222% → −0.076%: −$14.58
Slippage, 4 orders: −$75.85
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$104.43
Costs to cover: 0.899%
Break-even: never at this rate

Slippage from Binance: live order book, 16 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 Binance live order book, 16 min ago	3.30 bp	23.0 bp −$23	124.0 bp −$1,240	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	6.60 bp	18.1 bp −$18	172.1 bp −$1,721	284.3 bp −$28.4K	doesn't fit

IO 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
Injective IO/USDC PERP	−0.0430%	1h	0.1515	−0.288%	$2K	$199	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1519	−0.018%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1517	−0.132%	$6K	$35K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1519	long leg	$3.0M	$6.5M	50x
Bybit IOUSDT	+0.0100%	4h	0.1517	−0.156%	$1.1M	$908K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1515	−0.307%	$234K	$554K	50x	as long as short
MEXC IO_USDTshort	+0.0100%	4h	0.1516	−0.222%	$1.2M	$221K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1515	−0.288%	$358K	$665K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1518	−0.090%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1516	−0.222%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1519	−0.008%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1517	−0.139%	$1K	$132K	5x	as long as short
Kraken Futures PF_IOUSD	+2.3511%	1h	0.1511	−0.573%	$39K	$18K	10x	as long as short