Funding arb · Price arb /

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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 0.000%

Price spread now: MEXC against BingX−0.009%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$610.605% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.009%, 7d avg +0.044%

Together, before fees+0.028%+$3 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 0.052% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX W-USDT	0.01172	0.0100	pay 0.0050% / 4h	3h 29m	—	$6.7M	—
Short	MEXC W_USDT	0.01172	0.0100	get 0.0050% / 4h	3h 29m	$12.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.044%: −$5.22
Slippage, 4 orders: −$46.52
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$65.74
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; MEXC: live order book, 3 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 BingX live order book, 7 min ago	3.40 bp	18.7 bp −$19	59.0 bp −$590	765.8 bp −$76.6K	1206.8 bp −$603.4K
Sell MEXC live order book, 3 min ago	2.13 bp	9.9 bp −$10	53.9 bp −$539	92.5 bp −$9,246	182.2 bp −$91.1K

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0176%	1h	0.01172	+0.009%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.175%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01172	+0.017%	$2.0M	$271K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01172	+0.017%	$3.0M	$5.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01170	−0.145%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01171	−0.111%	$1.3M	$1.4M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01170	−0.154%	$427K	$217K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01172	−0.009%	$12.2M	$1.3M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01171	−0.068%	$386K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01173	+0.102%	$1.3M	$541K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDTlong	+0.0100%	4h	0.01172	long leg	—	$6.7M	—
Variational Omni W	+0.0100%	4h	0.01171	−0.110%	$71K	$38K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	+0.444%	$126K	$374K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	−0.036%	$59K	$384K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01183	+0.913%	$13K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0567%	1h	0.01173	+0.128%	$44K	$53K	15x	as long as short
Kraken Futures PF_WUSD	+0.0901%	1h	0.01174	+0.173%	$146K	$48K	20x	as long as short