Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against MEXC−0.105%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1011.012% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.292%+$29 · spread now −0.105%, 7d avg −0.031%

Together, before fees+0.309%+$31 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: OKX is 0.074% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LAYER_USDT	0.07638	0.0100	pay 0.0050% / 4h	2h 11m	$352K	$116K	20x
Short	OKX LAYER-USDT-SWAP	0.07630	0.0100	get 0.0050% / 4h	2h 11m	$702K	$651K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.031%: −$7.36
Slippage, 4 orders: −$91.21
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$108.58
Costs to cover: 1.012%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; OKX: live order book, 10 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, 2 min ago	0.65 bp	10.7 bp −$11	51.2 bp −$512	206.6 bp −$20.7K	doesn't fit
Sell OKX live order book, 10 min ago	3.27 bp	35.2 bp −$35	doesn't fit	doesn't fit	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	−0.0464%	1h	0.07642	+0.050%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.766%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07647	+0.119%	$587K	$163K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07636	−0.020%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07637	−0.013%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07630	−0.105%	$702K	$651K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07643	+0.065%	$137K	$54K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07638	long leg	$352K	$116K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07640	+0.026%	$1.1M	$163K	50x	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+0.026%	$26K	$185K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin LAYER-USDT	+0.0101%	4h	0.07641	+0.039%	$113K	$12K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07635	−0.040%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0156%	4h	0.07641	+0.039%	—	$1.6M	—	as long as short