Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.155%

Price spread now: MEXC against Deribit−0.034%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. MEXC is 0.034% cheaper against Deribit than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01179	0	get 0.0000% / 1h	13m 18s	$14K	$4K	10x
Short	MEXC W_USDT	0.01178	0.0100	get 0.0050% / 4h	13m 18s	$12.3M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.034%Rate

Funding earned: $21
Price spread: −0.034% → 0.000%: −$3.39
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: $6.61
Costs to cover: 0.110%
Break-even: 4.8 days

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 5 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	1.28 bp	10.7 bp −$11	58.5 bp −$585	88.2 bp −$8,824	148.2 bp −$74.1K

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.

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-PERPETUALlong	0.0000%	1h	0.01179	long leg	$14K	$4K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.579%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.034%	$2.0M	$274K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01178	−0.041%	$3.0M	$5.1M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01176	−0.229%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01177	−0.161%	$1.3M	$1.5M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01175	−0.348%	$428K	$234K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01178	−0.034%	$12.3M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01177	−0.136%	$387K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01178	−0.051%	$1.3M	$573K	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	0.01177	−0.127%	—	$6.7M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01179	+0.059%	$46K	$52K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01174	−0.376%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01175	−0.306%	$126K	$387K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01178	−0.061%	$59K	$385K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01186	+0.619%	$13K	$13K	50x	as long as short
Kraken Futures PF_WUSD	+0.1321%	1h	0.01180	+0.124%	$147K	$53K	20x	as long as short