Funding arb · Price arb /

SQD

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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 0.000%

Price spread now: Bybit against MEXC−0.318%7-day average −0.229% · you buy dearer than you sell

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1811.813% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.318%, 7d avg −0.229%

Together, before fees+0.157%+$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: Bybit is 0.089% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.229%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02834	0.0100	pay 0.0050% / 4h	1h 58m	$5.8M	$170K	50x
Short	Bybit SQDUSDT	0.02825	0.0100	get 0.0050% / 4h	1h 58m	$882K	$496K	20x

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 −0.318%Rate

Funding earned: $0
Price spread: −0.318% → −0.229%: −$8.89
Slippage, 4 orders: −$166.32
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$190.21
Costs to cover: 1.813%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bybit: live order book, 21 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, 4 min ago	3.53 bp	37.2 bp −$37	92.2 bp −$922	262.9 bp −$26.3K	doesn't fit
Sell Bybit live order book, 21 min ago	14.06 bp	52.6 bp −$53	269.4 bp −$2,694	doesn't fit	doesn't fit

SQD on 10 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
BloFin SQD-USDT	+0.0050%	4h	0.02826	−0.282%	$81K	$42K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02827	−0.252%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02834	+0.018%	$1.2M	$1.2M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02825	−0.318%	$882K	$496K	20x
Gate SQD_USDT	+0.0100%	4h	0.02827	−0.247%	$595K	$42K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02834	long leg	$5.8M	$170K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02829	−0.176%	$390K	$1.2M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02827	−0.247%	$724K	$83K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02829	−0.176%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02820	−0.497%	$11K	$52K	—	as long as short