Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0654%/8h= −71.6% APRpaid last 24h +0.028%

Price spread now: MEXC against Deribit−0.176%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and MEXC is 0.176% cheaper against Deribit than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.03987	0.0754	pay 0.0094% / 1h	28m 11s	$67K	$10K	10x
Short	MEXC S_USDT	0.03980	0.0100	get 0.0050% / 4h	2h 28m	$3.6M	$1.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$137.4
Price spread: −0.176% → 0.000%: −$17.56
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$165.95
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 4 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 4 min ago	1.25 bp	4.4 bp −$4	59.4 bp −$594	266.4 bp −$26.6K	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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
01 Exchange SUSD	−0.9016%	1h	0.03840	−3.687%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1827%	1h	0.03981	−0.160%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03961	−0.652%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03982	−0.138%	$1K	—	100x	as long as short
Variational Omni S	−0.0140%	4h	0.03978	−0.216%	$617K	$28K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03974	−0.329%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03981	−0.152%	$614	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.834%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03981	−0.150%	$99K	$540K	10x	as long as short
Lighter S	+0.0096%	1h	0.03986	−0.025%	$169K	$139K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03982	−0.113%	$1.0M	$594K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03984	−0.087%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03982	−0.125%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03975	−0.301%	$5.7M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03981	−0.150%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03975	−0.301%	$323K	$185K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.03980	−0.176%	$3.6M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03979	−0.201%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03983	−0.100%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03981	−0.150%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03980	−0.176%	$24K	$484K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03979	−0.191%	$224K	$593K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03979	−0.201%	$270K	$107K	75x	as long as short
Deribit S_USDC-PERPETUALlong	+0.0754%	1h	0.03987	long leg	$67K	$10K	10x
Backpack S_USDC_PERP	+0.2174%	1h	0.03990	+0.075%	$116K	$426K	5x	as long as short