Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against MEXC−0.160%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$890.886% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.160%, 7d avg −0.093%

Together, before fees+0.031%+$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: Bybit is 0.067% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01187	0.0100	pay 0.0050% / 4h	19m 11s	$12.8M	$1.4M	50x
Short	Bybit WUSDT	0.01185	0.0100	get 0.0050% / 4h	19m 11s	$4.2M	$1.9M	50x

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 −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.093%: −$6.65
Slippage, 4 orders: −$73.58
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$95.24
Costs to cover: 0.886%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bybit: 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 MEXC live order book, 4 min ago	3.36 bp	10.6 bp −$11	59.4 bp −$594	96.1 bp −$9,606	178.0 bp −$89.0K
Sell Bybit live order book, 3 min ago	2.95 bp	35.2 bp −$35	139.3 bp −$1,393	doesn't fit	doesn't fit

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	−0.0760%	1h	0.01187	+0.017%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.836%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01188	+0.067%	$2.0M	$341K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	+0.008%	$3.0M	$6.5M	50x	as long as short
Bybit WUSDTshort	+0.0100%	4h	0.01185	−0.160%	$4.2M	$1.9M	50x
OKX W-USDT-SWAP	+0.0100%	4h	0.01186	−0.126%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01187	−0.017%	$449K	$229K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01187	long leg	$12.8M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01186	−0.101%	$384K	$213K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01187	−0.017%	$1.3M	$576K	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	0.01187	−0.042%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01185	−0.162%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01188	+0.074%	$128K	$414K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	−0.018%	$62K	$235K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01190	+0.211%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.0909%	1h	0.01189	+0.168%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1680%	1h	0.01190	+0.219%	$147K	$183K	20x	as long as short