Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.274%7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1451.448% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)−0.261%−$26 · spread now +0.274%, 7d avg +0.140%

Together, before fees−0.215%−$21 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: MEXC is 0.135% dearer against Bybit than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08385	0.0100	pay 0.0050% / 4h	3h 49m	$1.4M	$1.1M	25x
Short	MEXC INIT_USDT	0.08408	0.0100	get 0.0050% / 4h	3h 49m	$446K	$139K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.274%Rate

Funding earned: $0
Price spread: +0.274% → +0.140%: $13.47
Slippage, 4 orders: −$129.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$131.31
Costs to cover: 1.448%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 36 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 Bybit live order book, 1 min ago	6.56 bp	44.7 bp −$45	103.0 bp −$1,030	doesn't fit	doesn't fit
Sell MEXC live order book, 36 min ago	2.99 bp	13.8 bp −$14	72.4 bp −$724	228.8 bp −$22.9K	doesn't fit

INIT 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_INITUSD	−0.0127%	1h	0.08397	+0.141%	$5K	$13K	10x	as long as short
BloFin INIT-USDT	+0.0099%	4h	0.08397	+0.143%	$153K	$39K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08409	+0.284%	$313K	$137K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08384	−0.013%	$28K	$7K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08410	+0.300%	$3.5M	$2.5M	25x	as long as short
Bybit INITUSDTlong	+0.0100%	4h	0.08385	long leg	$1.4M	$1.1M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08392	+0.083%	$141K	$429K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08378	−0.083%	$82K	$15K	25x	as long as short
MEXC INIT_USDTshort	+0.0100%	4h	0.08408	+0.274%	$446K	$139K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08408	+0.274%	$327K	$37K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08396	+0.131%	$437K	$200K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08397	+0.143%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08379	−0.070%	$27K	$10K	—	as long as short