Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.060%

Price spread now: Deribit against MEXC+0.128%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.128% dearer against MEXC than usual: you sell high and buy low (spread +0.128% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03909	0.0100	pay 0.0050% / 4h	1h 05m	$3.5M	$2.3M	200x
Short	Deribit S_USDC-PERPETUAL	0.03914	0.0006	get 0.0001% / 1h	5m 45s	$66K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$19.83
Price spread: +0.128% → 0.000%: $12.79
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.04
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: MEXC: live order book, 6 min ago; Deribit: no order-book sample. Net counts fees only.

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, 6 min ago	2.57 bp	6.5 bp −$6	45.3 bp −$453	257.5 bp −$25.7K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1776%	1h	0.03800	−2.788%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1600%	1h	0.03905	−0.091%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.123%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0932%	4h	0.03888	−0.525%	$606K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0198% / S +0.0191%	1h	0.03912	+0.079%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03908	−0.013%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03912	+0.089%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0006%	1h	0.03914	+0.128%	$66K	$10K	10x
Orderly PERP_S_USDC	+0.0030%	4h	0.03910	+0.026%	$100K	$343K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.886%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03912	+0.077%	$164K	$223K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03908	−0.023%	$980K	$712K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03911	+0.041%	$43K	$212K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03908	−0.026%	$5.3M	$18.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03901	−0.205%	$5.6M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03906	−0.077%	$976K	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03902	−0.179%	$318K	$266K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03909	long leg	$3.5M	$2.3M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03906	−0.077%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03908	−0.026%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	−0.051%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03890	−0.486%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03906	−0.078%	$219K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03899	−0.256%	$266K	$125K	75x	as long as short
Backpack S_USDC_PERP	+0.0478%	1h	0.03910	+0.026%	$114K	$300K	5x	as long as short