Funding arb · Price arb /

MTL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Bitget against MEXC+0.096%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1131.128% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.565%+$56 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.096%, 7d avg −0.042%

Together, before fees+0.426%+$43 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: Bitget is 0.137% dearer against MEXC than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MTL_USDT	0.3134	0.0100	pay 0.0050% / 4h	26m 09s	$279K	$133K	50x
Short	Bitget MTLUSDT	0.3137	0.0100	get 0.0050% / 4h	26m 09s	$347K	$94K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → −0.042%: $13.72
Slippage, 4 orders: −$96.82
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.09
Costs to cover: 1.128%
Break-even: never at this rate

Slippage from MEXC: live order book, 34 min ago; Bitget: live order book, 44 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, 34 min ago	1.60 bp	19.3 bp −$19	120.9 bp −$1,209	180.0 bp −$18.0K	doesn't fit
Sell Bitget live order book, 44 min ago	3.21 bp	37.6 bp −$38	347.1 bp −$3,471	doesn't fit	doesn't fit

MTL on 9 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
BingX MTL-USDT	+0.0036%	4h	0.3134	0.000%	—	$1.3M	—	as long as short
BloFin MTL-USDT	+0.0090%	4h	0.3141	+0.223%	$120K	$5K	50x	as long as short
Aster MTLUSDT	+0.0100%	1h	0.3138	+0.140%	$2K	$8K	5x	as long as short
Binance MTLUSDT	+0.0100%	4h	0.3134	0.000%	$1.8M	$3.5M	50x	as long as short
Gate MTL_USDT	+0.0100%	4h	0.3135	+0.032%	$167K	$36K	25x	as long as short
MEXC MTL_USDTlong	+0.0100%	4h	0.3134	long leg	$279K	$133K	50x
KuCoin MTLUSDTM	+0.0100%	4h	0.3136	+0.064%	$665K	$24K	30x	as long as short
Bitget MTLUSDTshort	+0.0100%	4h	0.3137	+0.096%	$347K	$94K	25x
Bybit MTLUSDT	+0.0930%	8h	0.3129	−0.160%	$1.0M	$713K	25x	as long as short