Funding you earn now, next payment 00:00 UTC−0.0670%/8h= −73.4% APRpaid last 24h −0.032%
Price spread now: MEXC against Bybit+0.331%7-day average +0.190% · you sell dearer than you buy
Net, funding: paid 7d − costs−$235as in the Funding arb table
Net, price: spread back to 7d avg − costs−$201as in the Price arb table
costs, in and out, $10k−$2152.149% of the position
Funding, last 7 days−0.203%−$20 on $10k
+Price spread, last 7 days−0.127%−$13 · spread now +0.331%, 7d avg +0.190%
=The price spread pays, funding is against you. MEXC is 0.140% dearer against Bybit than usual: you sell high and buy low (spread +0.331% now, against its 7-day average of +0.190%): +$14 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.203% in total) that is about 4.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.203% in total (about -10.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MERLUSDT | 0.02723 | 0.0770 | pay 0.0770% / 8h | 1h 45m | $1.2M | $477K | 25x |
| Short | MEXC MERL_USDT | 0.02732 | 0.0100 | get 0.0050% / 4h | 1h 45m | $14.3M | $110K | 100x |
Bybit MERLUSDT
MEXC MERL_USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$140.68
- Price spread: +0.331% → +0.190%
- $14.02
- Slippage, 4 orders
- −$199.9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$341.57
- Costs to cover
- 2.149%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 3 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, 1 min ago | 3.67 bp | 93.9 bp −$94 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 3 min ago | 1.83 bp | 3.8 bp −$4 | 42.2 bp −$422 | 170.1 bp −$17.0K | 491.7 bp −$245.8K |
MERL on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MERL-PERP-INTX | −0.0128% | 1h | 0.02708 | −0.536% | $26K | $506K | 50x | as long as short |
| BloFin MERL-USDT | +0.0067% | 4h | 0.02730 | +0.257% | $120K | $3K | 50x | as long as short |
| Orderly PERP_MERL_USDC | +0.0097% | 4h | 0.02730 | +0.257% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02732 | +0.334% | $438K | $135K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02730 | +0.242% | $3K | $427 | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02732 | +0.331% | $1.8M | $2.1M | 50x | as long as short |
| OKX MERL-USDT-SWAP | +0.0100% | 4h | 0.02730 | +0.257% | $1.3M | $2.5M | 20x | as long as short |
| Gate MERL_USDT | +0.0100% | 8h | 0.02727 | +0.147% | $251K | $65K | 25x | as long as short |
| MEXC MERL_USDTshort | +0.0100% | 4h | 0.02732 | +0.331% | $14.3M | $110K | 100x | |
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02727 | +0.147% | $879K | $65K | 30x | as long as short |
Coinbase International MERL-PERP-INTX
BloFin MERL-USDT
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
OKX MERL-USDT-SWAP
Gate MERL_USDT
KuCoin MERLUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MERLUSDT | +0.0100% | 4h | 0.02733 | +0.367% | $1.6M | $297K | 25x | as long as short |
| Variational Omni MERL | +0.0100% | 8h | 0.02720 | −0.101% | $9K | $163 | — | as long as short |
| SunX MERL-USDT | +0.0100% | 4h | 0.02730 | +0.257% | $1K | $995K | 20x | as long as short |
| Deribit MERL_USDC-PERPETUAL | +0.0373% | 1h | 0.02732 | +0.338% | $46K | $64K | 10x | as long as short |
| BingX MERL-USDT | +0.0694% | 4h | 0.02729 | +0.220% | — | $6.7M | — | as long as short |
| Bybit MERLUSDTlong | +0.0770% | 8h | 0.02723 | long leg | $1.2M | $477K | 25x |
Bitget MERLUSDT
Variational Omni MERL
SunX MERL-USDT
Deribit MERL_USDC-PERPETUAL
BingX MERL-USDT