Funding arb · Price arb /

INIT

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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+0.024%7-day average −0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1231.230% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.024%, 7d avg −0.137%

Together, before fees−0.084%−$8 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 0.162% dearer against MEXC than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08259	0.0100	pay 0.0050% / 4h	1h 39m	$448K	$210K	20x
Short	Bybit INITUSDT	0.08261	0.0100	get 0.0050% / 4h	1h 39m	$1.4M	$1.5M	25x

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 +0.024%Rate

Funding earned: $0
Price spread: +0.024% → −0.137%: $16.17
Slippage, 4 orders: −$107.96
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.79
Costs to cover: 1.230%
Break-even: never at this rate

Slippage from MEXC: live order book, 12 min ago; Bybit: live order book, 2 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, 12 min ago	2.42 bp	17.4 bp −$17	87.7 bp −$877	273.9 bp −$27.4K	doesn't fit
Sell Bybit live order book, 2 min ago	7.27 bp	46.8 bp −$47	211.2 bp −$2,112	doesn't fit	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
BloFin INIT-USDT	+0.0081%	4h	0.08269	+0.121%	$152K	$112K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08255	−0.046%	$300K	$229K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08264	+0.066%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08253	−0.073%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08261	+0.024%	$1.4M	$1.5M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08244	−0.182%	$137K	$665K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08252	−0.085%	$84K	$56K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08259	long leg	$448K	$210K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08259	0.000%	$328K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08257	−0.024%	$428K	$312K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08258	−0.012%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08255	−0.044%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0242%	1h	0.08202	−0.689%	$3K	$19K	10x	as long as short