Funding arb · Price arb /

LAYER

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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 BingX−0.013%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$890.885% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.013%, 7d avg −0.039%

Together, before fees−0.059%−$6 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 0.025% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07653	0.0100	pay 0.0050% / 4h	1h 36m	—	$1.6M	—
Short	MEXC LAYER_USDT	0.07652	0.0100	get 0.0050% / 4h	1h 36m	$372K	$130K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → −0.039%: $2.54
Slippage, 4 orders: −$78.51
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$85.96
Costs to cover: 0.885%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; MEXC: live order book, 54 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 BingX live order book, 11 min ago	5.87 bp	26.6 bp −$27	113.8 bp −$1,138	589.7 bp −$59.0K	747.9 bp −$373.9K
Sell MEXC live order book, 54 min ago	3.94 bp	19.6 bp −$20	57.5 bp −$575	197.2 bp −$19.7K	doesn't fit

LAYER 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_LAYERUSD	−0.0276%	1h	0.07653	0.000%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.952%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0081%	4h	0.07650	−0.039%	$113K	$15K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07662	+0.118%	$590K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07654	+0.016%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07650	−0.039%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07646	−0.091%	$715K	$660K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07666	+0.170%	$141K	$40K	20x	as long as short
MEXC LAYER_USDTshort	+0.0100%	4h	0.07652	−0.013%	$372K	$130K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07653	0.000%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDTlong	+0.0100%	4h	0.07653	long leg	—	$1.6M	—
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07670	+0.222%	$16K	$194K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07651	−0.031%	$1K	$218K	5x	as long as short