Funding arb · Price arb /

SMH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.003%

Price spread now: Vest against MEXC−0.053%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.053% cheaper against MEXC than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SMH_USDT	600.11	0	get 0.0000% / 8h	6h 13m	$568K	$131K	20x
Short	Vest SMH-USD-PERP	599.79	0.0046	get 0.0006% / 1h	13m 01s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.053%Rate

Funding earned: $9.59
Price spread: −0.053% → 0.000%: −$5.33
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: $2.26
Costs to cover: 0.020%
Break-even: 5.4 days

Slippage unknown: MEXC: live order book, 47 min ago; Vest: 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, 47 min ago	9.55 bp	14.0 bp −$14	22.3 bp −$223	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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.

SMH on 10 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
Binance SMHUSDT	0.0000%	8h	600.21	+0.017%	$742K	$739K	20x	as long as short
Bybit SMHUSDT	0.0000%	8h	600.09	−0.003%	$265K	$2.4M	25x	as long as short
OKX SMH-USDT-SWAP	0.0000%	8h	600.53	+0.070%	$505K	$349K	20x	as long as short
QFEX SMH-USD	0.0000%	1h	599.73	−0.063%	$1.1M	$6.7M	10x	as long as short
Gate SMH_USDT	0.0000%	8h	600.10	−0.002%	$182K	$21K	20x	as long as short
MEXC SMH_USDTlong	0.0000%	8h	600.11	long leg	$568K	$131K	20x
Bitget SMHUSDT	0.0000%	8h	600.56	+0.075%	$692K	$118K	20x	as long as short
Vest SMH-USD-PERPshort	+0.0046%	1h	599.79	−0.053%	—	—	25x
HTX SMH-USDT	+0.0100%	8h	602.19	+0.347%	$7K	$46K	10x	as long as short
tradeXYZ xyz:SMH	+0.0403%	1h	599.76	−0.058%	$3.3M	$1.9M	20x	as long as short