Funding arb · Price arb /

S

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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 −0.002%

Price spread now: MEXC against Bitget+0.148%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 7 days−0.154%−$15 · spread now +0.148%, 7d avg −0.032%

Together, before fees−0.161%−$16 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 0.180% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.04067	0.0100	pay 0.0050% / 4h	1h 57m	$1.2M	$2.3M	50x
Short	MEXC S_USDT	0.04073	0.0100	get 0.0050% / 4h	1h 57m	$4.0M	$1.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now +0.148%Rate

Funding earned: $0
Price spread: +0.148% → −0.032%: $17.99
Slippage, 4 orders: −$36.99
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$35
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; MEXC: live order book, 5 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 Bitget live order book, 5 min ago	6.11 bp	25.3 bp −$25	94.0 bp −$940	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.22 bp	3.6 bp −$4	43.9 bp −$439	255.7 bp −$25.6K	doesn't fit

S on 25 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
01 Exchange SUSD	−1.0144%	1h	0.03950	−2.877%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2363%	1h	0.04080	+0.311%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−2.606%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04083	+0.381%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04083	+0.395%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04082	+0.375%	$629	—	150x	as long as short
Variational Omni S	+0.0020%	4h	0.04085	+0.436%	$634K	$25K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.811%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04081	+0.344%	$101K	$564K	10x	as long as short
Lighter S	+0.0096%	1h	0.04077	+0.246%	$174K	$139K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04075	+0.187%	$1.0M	$597K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04068	+0.037%	$48K	$111K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04068	+0.012%	$5.8M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04059	−0.197%	$5.8M	$4.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04078	+0.270%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04060	−0.172%	$330K	$179K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.04073	+0.148%	$4.0M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.04067	0.000%	$1.9M	$2.8M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.04067	long leg	$1.2M	$2.3M	50x
BingX S-USDT	+0.0100%	4h	0.04064	−0.074%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.320%	$24K	$489K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04064	−0.072%	$228K	$592K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04078	+0.270%	$279K	$117K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0730%	1h	0.04086	+0.467%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2379%	1h	0.04090	+0.566%	$119K	$426K	5x	as long as short