Funding you earn now, next payment 05:00 UTC+0.1582%/8h= +173.2% APRpaid last 24h −0.012%
Price spread now: Backpack against MEXC+0.109%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 6 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
Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Backpack is 0.109% dearer against MEXC than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC W_USDT | 0.01188 | 0.0100 | pay 0.0050% / 4h | 3h 29m | $12.8M | $1.3M | 50x |
| Short | Backpack W_USDC_PERP | 0.01190 | 0.1682 | get 0.0210% / 1h | 29m 00s | $44K | $42K | 15x |
MEXC W_USDT
Backpack W_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $332.25
- Price spread: +0.109% → 0.000%
- $10.94
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $329.19
- Costs to cover
- 0.140%
- Break-even
- 0.1 days
Slippage unknown: MEXC: live order book, 4 min ago; Backpack: 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, 4 min ago | 1.69 bp | 8.9 bp −$9 | 57.1 bp −$571 | 82.6 bp −$8,258 | 133.3 bp −$66.6K |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: 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-PERPETUAL | −0.0339% | 1h | 0.01188 | −0.067% | $15K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.733% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01188 | −0.034% | $2.0M | $323K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01188 | −0.057% | $3.0M | $5.9M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01187 | −0.143% | $4.2M | $1.7M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01187 | −0.118% | $1.3M | $1.8M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01188 | −0.008% | $449K | $211K | 75x | as long as short |
| MEXC W_USDTlong | +0.0100% | 4h | 0.01188 | long leg | $12.8M | $1.3M | 50x | |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01187 | −0.118% | $381K | $205K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01187 | −0.118% | $1.3M | $556K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01188 | −0.059% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01188 | +0.008% | $72K | $39K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01189 | +0.055% | $128K | $402K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01187 | −0.093% | $61K | $235K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0440% | 1h | 0.01195 | +0.589% | $14K | $14K | 50x | as long as short |
| Backpack W_USDC_PERPshort | +0.1682% | 1h | 0.01190 | +0.109% | $44K | $42K | 15x | |
| Kraken Futures PF_WUSD | +0.1759% | 1h | 0.01190 | +0.123% | $147K | $185K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD