Funding arb · Price arb /

ATH

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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 +0.031%

Price spread now: MEXC against dYdX−0.037%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. MEXC is 0.037% cheaper against dYdX than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 29 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	dYdX ATH-USD	0.005490	0	get 0.0000% / 1h	16m 02s	$11K	$59	5x
Short	MEXC ATH_USDT	0.005488	0.0100	get 0.0050% / 4h	16m 02s	$8.9M	$680K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now −0.037%Rate

Funding earned: $21
Price spread: −0.037% → 0.000%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$0.66
Costs to cover: 0.180%
Break-even: 7.2 days

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 2 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 dYdX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	3.64 bp	15.5 bp −$16	74.0 bp −$740	215.5 bp −$21.5K	doesn't fit

dYdX: 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.

ATH on 13 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
Kraken Futures PF_ATHUSD	−0.1809%	1h	0.005488	−0.038%	$17K	$109K	10x	as long as short
Variational Omni ATH	−0.0100%	4h	0.005462	−0.509%	$183K	$93K	—	as long as short
dYdX ATH-USDlong	0.0000%	1h	0.005490	long leg	$11K	$59	5x
BloFin ATH-USDT	+0.0078%	4h	0.005496	+0.109%	$162K	$70K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005490	−0.006%	$4K	$42K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005488	−0.044%	$3.2M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005476	−0.255%	$4.3M	$2.7M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005478	−0.219%	$701K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005483	−0.128%	$783K	$619K	30x	as long as short
MEXC ATH_USDTshort	+0.0100%	4h	0.005488	−0.037%	$8.9M	$680K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005480	−0.182%	$549K	$79K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005484	−0.110%	$1.5M	$898K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005484	−0.110%	—	$21.3M	—	as long as short