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 Bybit+0.046%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2312.305% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.046%, 7d avg +0.005%

Together, before fees−0.052%−$5 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 0.041% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1516	0.0100	pay 0.0050% / 4h	3h 03m	$1.1M	$904K	25x
Short	MEXC IO_USDT	0.1517	0.0100	get 0.0050% / 4h	3h 03m	$1.2M	$232K	125x

Funding 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 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.005%: $4.1
Slippage, 4 orders: −$215.52
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$226.42
Costs to cover: 2.305%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 1 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, 2 min ago	6.58 bp	86.3 bp −$86	901.1 bp −$9,011	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	6.57 bp	23.1 bp −$23	177.9 bp −$1,779	272.6 bp −$27.3K	doesn't fit

IO on 14 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
Hyperliquid IO	+0.0100%	1h	0.1519	+0.204%	$1.0M	$383K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1520	+0.257%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1518	+0.091%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1516	long leg	$1.1M	$904K	25x
Gate IO_USDT	+0.0100%	4h	0.1518	+0.132%	$240K	$555K	50x	as long as short
MEXC IO_USDTshort	+0.0100%	4h	0.1517	+0.046%	$1.2M	$232K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1520	+0.244%	$361K	$675K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1519	+0.178%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1517	+0.046%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1520	+0.225%	$33K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1519	+0.209%	$3K	$125K	5x	as long as short
BloFin IO-USDT	+0.0113%	4h	0.1525	+0.574%	$142K	$33K	50x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	+0.046%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.0619%	1h	0.1524	+0.495%	$40K	$18K	10x	as long as short