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 −0.004%

Price spread now: Bybit against MEXC−0.227%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$740.736% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 7 days+0.163%+$16 · spread now −0.227%, 7d avg −0.083%

Together, before fees+0.228%+$23 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: Bybit is 0.144% cheaper against MEXC than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03968	0.0100	pay 0.0050% / 4h	3h 26m	$3.6M	$1.7M	200x
Short	Bybit SUSDT	0.03959	0.0100	get 0.0050% / 4h	3h 26m	$5.7M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → −0.083%: −$14.41
Slippage, 4 orders: −$58.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.98
Costs to cover: 0.736%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: 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 MEXC live order book, 1 min ago	2.52 bp	5.8 bp −$6	66.9 bp −$669	270.5 bp −$27.1K	doesn't fit
Sell Bybit live order book, 1 min ago	5.06 bp	31.9 bp −$32	85.3 bp −$853	doesn't fit	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	−0.3072%	1h	0.03840	−3.226%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2249%	1h	0.03961	−0.179%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−1.033%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03963	−0.131%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03961	−0.176%	$4	—	15x	as long as short
Variational Omni S	−0.0038%	4h	0.03964	−0.093%	$613K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03963	−0.130%	$611	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.327%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0081%	4h	0.03963	−0.126%	$98K	$288K	10x	as long as short
Lighter S	+0.0096%	1h	0.03969	+0.025%	$167K	$156K	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	0.03964	−0.108%	$993K	$592K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03967	−0.037%	$47K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03966	−0.056%	$5.5M	$13.9M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03959	−0.227%	$5.7M	$4.5M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03960	−0.202%	$983K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03961	−0.176%	$322K	$190K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03968	long leg	$3.6M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03965	−0.076%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03964	−0.101%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03961	−0.176%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	−0.202%	$20K	$462K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03960	−0.193%	$225K	$983K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03961	−0.176%	$273K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0759%	1h	0.03968	0.000%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1605%	1h	0.03970	+0.050%	$115K	$422K	5x	as long as short