Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit−0.068%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2172.175% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.068%, 7d avg +0.004%

Together, before fees+0.014%+$1 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 0.072% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1481	0.0100	pay 0.0050% / 4h	2h 31m	$1.1M	$902K	25x
Short	MEXC IO_USDT	0.1480	0.0100	get 0.0050% / 4h	2h 31m	$1.2M	$236K	125x

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 −0.068%Rate

Funding earned: $0
Price spread: −0.068% → +0.004%: −$7.17
Slippage, 4 orders: −$202.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$224.65
Costs to cover: 2.175%
Break-even: never at this rate

Slippage from Bybit: live order book, 9 min ago; MEXC: live order book, 5 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, 9 min ago	6.74 bp	82.3 bp −$82	476.4 bp −$4,764	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	6.71 bp	35.7 bp −$36	182.6 bp −$1,826	343.6 bp −$34.4K	doesn't fit

IO on 14 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
Hyperliquid IO	+0.0100%	1h	0.1483	+0.115%	$988K	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1482	+0.067%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1482	+0.062%	$2.9M	$6.5M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1481	long leg	$1.1M	$902K	25x
Gate IO_USDT	+0.0100%	4h	0.1480	−0.047%	$234K	$450K	50x	as long as short
MEXC IO_USDTshort	+0.0100%	4h	0.1480	−0.068%	$1.2M	$236K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1481	0.000%	$347K	$624K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1483	+0.135%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1481	0.000%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1479	−0.151%	$30K	$16K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1482	+0.034%	$3K	$215K	5x	as long as short
BloFin IO-USDT	+0.0145%	4h	0.1486	+0.338%	$192K	$38K	50x	as long as short
Injective IO/USDC PERP	+0.0619%	1h	0.1484	+0.203%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.7574%	1h	0.1484	+0.196%	$38K	$9K	10x	as long as short