Funding arb · Price arb /

S

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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 +0.002%

Price spread now: Bitget against MEXC+0.219%7-day average +0.031% · 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−$36as in the Price arb table

costs, in and out, $10k−$550.551% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.316%−$32 · spread now +0.219%, 7d avg +0.031%

Together, before fees−0.309%−$31 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 0.188% dearer against MEXC than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.04565	0.0100	pay 0.0050% / 4h	48m 23s	$4.0M	$3.7M	200x
Short	Bitget SUSDT	0.04575	0.0100	get 0.0050% / 4h	48m 23s	$1.3M	$3.6M	50x

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 +0.219%Rate

Funding earned: $0
Price spread: +0.219% → +0.031%: $18.83
Slippage, 4 orders: −$39.06
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$36.23
Costs to cover: 0.551%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Bitget: live order book, 2 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, 2 min ago	1.10 bp	4.3 bp −$4	79.9 bp −$799	260.7 bp −$26.1K	doesn't fit
Sell Bitget live order book, 2 min ago	9.88 bp	22.2 bp −$22	135.6 bp −$1,356	doesn't fit	doesn't fit

S on 25 exchanges

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	−0.7408%	1h	0.04470	−2.081%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.3589%	1h	0.04538	−0.584%	$38K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1880%	1h	0.04510	−1.205%	$55K	$21K	25x	as long as short
Variational Omni S	−0.1375%	4h	0.04558	−0.147%	$732K	$52K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0254% / S +0.0167%	1h	0.04574	+0.197%	$2K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0152%	4h	0.04570	+0.110%	$113K	$632K	10x	as long as short
OKX S-USDT-SWAP	−0.0102%	4h	0.04566	+0.022%	$1.4M	$7.9M	20x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04561	−0.091%	$5	—	15x	as long as short
Hyperliquid S	−0.0021%	1h	0.04562	−0.068%	$1.2M	$1.1M	5x	as long as short
Bybit SUSDT	−0.0015%	4h	0.04560	−0.110%	$6.5M	$6.9M	50x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04576	+0.241%	$77K	$623	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04574	+0.208%	$705	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04600	+0.767%	$2K	$2	12x	as long as short
Lighter S	+0.0096%	1h	0.04560	−0.110%	$159K	$154K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04568	+0.072%	$48K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04567	+0.044%	$6.9M	$26.9M	75x	as long as short
Gate S_USDT	+0.0100%	4h	0.04564	−0.022%	$384K	$388K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.04565	long leg	$4.0M	$3.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.04563	−0.044%	$2.2M	$3.0M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.04575	+0.219%	$1.3M	$3.6M	50x
BingX S-USDT	+0.0100%	4h	0.04564	−0.022%	—	$7.1M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04580	+0.329%	$25K	$534K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04564	−0.012%	$260K	$1.3M	10x	as long as short
Backpack S_USDC_PERP	+0.0210%	1h	0.04550	−0.329%	$103K	$454K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04524	−0.898%	$338K	$241K	75x	as long as short