Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.038%

Price spread now: Coinbase International against MEXC+0.411%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.411% dearer against MEXC than usual: you sell high and buy low: +$41 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	0.01191	0.0100	pay 0.0050% / 4h	1h 45m	$12.5M	$1.4M	50x
Short	Coinbase International W-PERP-INTX	0.01196	0.0304	get 0.0038% / 1h	45m 38s	$14K	$14K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.411%Rate

Funding earned: $42.84
Price spread: +0.411% → 0.000%: $41.13
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $69.97
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Coinbase International: 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, 3 min ago	3.78 bp	6.3 bp −$6	53.4 bp −$534	97.7 bp −$9,771	188.3 bp −$94.1K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.0002%	1h	0.01191	−0.017%	$14K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.494%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01191	−0.017%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01191	+0.007%	$3.0M	$5.4M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01189	−0.218%	$4.2M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01191	−0.034%	$1.3M	$1.6M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01188	−0.311%	$432K	$230K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01191	long leg	$12.5M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01190	−0.101%	$398K	$196K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01192	+0.067%	$1.3M	$588K	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	0.01189	−0.151%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01189	−0.223%	$72K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01190	−0.122%	$126K	$382K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01191	−0.017%	$60K	$144K	5x	as long as short
Coinbase International W-PERP-INTXshort	+0.0304%	1h	0.01196	+0.411%	$14K	$14K	50x
Backpack W_USDC_PERP	+0.1193%	1h	0.01193	+0.168%	$44K	$39K	15x	as long as short
Kraken Futures PF_WUSD	+0.1543%	1h	0.01193	+0.163%	$149K	$188K	20x	as long as short