Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended−0.121%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1701.700% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.121%, 7d avg −0.033%

Together, before fees+0.107%+ Points / potential airdropExtended: Active · farm board+$11 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 0.088% cheaper against Extended than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1508	0.0104	pay 0.0013% / 1h	1m 20s	$5K	$171K	5x
Short	MEXC IO_USDT	0.1506	0.0100	get 0.0050% / 4h	2h 01m	$1.1M	$240K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$0.84
Price spread: −0.121% → −0.033%: −$8.83
Slippage, 4 orders: −$160.96
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$179.63
Costs to cover: 1.700%
Break-even: never at this rate

Slippage from Extended: live order book, 20 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 Extended live order book, 20 min ago	5.28 bp	46.3 bp −$46	468.8 bp −$4,688	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	3.32 bp	26.0 bp −$26	183.9 bp −$1,839	316.7 bp −$31.7K	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
Injective IO/USDC PERP	−0.0157%	1h	0.1516	+0.542%	$2K	$103	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1507	−0.022%	$1.0M	$389K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1508	−0.018%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1508	+0.011%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1505	−0.194%	$1.1M	$867K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1508	+0.018%	$231K	$542K	50x	as long as short
MEXC IO_USDTshort	+0.0100%	4h	0.1506	−0.121%	$1.1M	$240K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1507	−0.055%	$401K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1507	−0.055%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1508	+0.011%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1505	−0.192%	$30K	$5K	—	as long as short
Extended IO-USDlong	+0.0104%	1h	0.1508	long leg	$5K	$171K	5x
BloFin IO-USDT	+0.0116%	4h	0.1506	−0.121%	$193K	$30K	50x	as long as short
Kraken Futures PF_IOUSD	+0.5448%	1h	0.1509	+0.081%	$39K	$21K	10x	as long as short