Funding arb · Price arb /

LAYER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against MEXC+0.078%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$880.875% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.078%, 7d avg +0.039%

Together, before fees−0.005%−$1 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: BingX is 0.039% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LAYER_USDT	0.07656	0.0100	pay 0.0050% / 4h	3h 52m	$402K	$128K	20x
Short	BingX LAYER-USDT	0.07662	0.0100	get 0.0050% / 4h	3h 52m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → +0.039%: $3.94
Slippage, 4 orders: −$77.52
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$83.58
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from MEXC: live order book, 28 min ago; BingX: live order book, 9 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 MEXC live order book, 28 min ago	2.62 bp	15.5 bp −$16	51.7 bp −$517	175.2 bp −$17.5K	doesn't fit
Sell BingX live order book, 9 min ago	7.83 bp	28.7 bp −$29	90.9 bp −$909	581.5 bp −$58.1K	864.0 bp −$432.0K

LAYER 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_LAYERUSD	−0.0952%	1h	0.07657	+0.015%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.990%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07665	+0.114%	$590K	$155K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07656	0.000%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07655	−0.007%	$2.1M	$2.1M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07658	+0.026%	$712K	$566K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07660	+0.052%	$141K	$37K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07656	long leg	$402K	$128K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07661	+0.065%	$1.1M	$97K	50x	as long as short
BingX LAYER-USDTshort	+0.0100%	4h	0.07662	+0.078%	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07650	−0.078%	$16K	$191K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07654	−0.029%	$2K	$211K	5x	as long as short
BloFin LAYER-USDT	+0.0144%	4h	0.07654	−0.026%	$113K	$15K	50x	as long as short