Funding arb · Price arb /

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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 0.000%

Price spread now: MEXC against Bybit+0.194%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$830.831% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.076%−$8 · spread now +0.194%, 7d avg +0.094%

Together, before fees−0.090%−$9 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 0.100% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WUSDT	0.01184	0.0100	pay 0.0050% / 4h	1h 29m	$4.1M	$1.6M	50x
Short	MEXC W_USDT	0.01186	0.0100	get 0.0050% / 4h	1h 29m	$12.4M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.194%Rate

Funding earned: $0
Price spread: +0.194% → +0.094%: $10.05
Slippage, 4 orders: −$68.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$73.06
Costs to cover: 0.831%
Break-even: never at this rate

Slippage from Bybit: live order book, 8 min ago; MEXC: live order book, 4 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 Bybit live order book, 8 min ago	1.69 bp	32.6 bp −$33	134.3 bp −$1,343	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.11 bp	8.9 bp −$9	53.4 bp −$534	91.0 bp −$9,105	178.8 bp −$89.4K

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	−0.0003%	1h	0.01185	+0.161%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.146%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	+0.287%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01186	+0.226%	$3.0M	$5.4M	50x	as long as short
Bybit WUSDTlong	+0.0100%	4h	0.01184	long leg	$4.1M	$1.6M	50x
OKX W-USDT-SWAP	+0.0100%	4h	0.01185	+0.093%	$1.3M	$1.6M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01183	−0.076%	$429K	$234K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01186	+0.194%	$12.4M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01186	+0.203%	$397K	$192K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01186	+0.203%	$1.3M	$594K	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-USDT	+0.0100%	4h	0.01185	+0.161%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01183	−0.009%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01186	+0.175%	$125K	$383K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01186	+0.200%	$60K	$145K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0304%	1h	0.01196	+1.056%	$14K	$14K	50x	as long as short
Backpack W_USDC_PERP	+0.0903%	1h	0.01187	+0.279%	$44K	$39K	15x	as long as short
Kraken Futures PF_WUSD	+0.1549%	1h	0.01188	+0.385%	$148K	$188K	20x	as long as short