Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.279%7-day average +0.229% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1531.535% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.279%, 7d avg +0.229%

Together, before fees−0.079%−$8 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 0.050% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.229%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SQDUSDT	0.02871	0.0100	pay 0.0050% / 4h	1h 53m	$888K	$382K	20x
Short	MEXC SQD_USDT	0.02879	0.0100	get 0.0050% / 4h	1h 53m	$5.8M	$179K	50x

Funding 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 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.279%Rate

Funding earned: $0
Price spread: +0.279% → +0.229%: $4.97
Slippage, 4 orders: −$138.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$148.49
Costs to cover: 1.535%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; MEXC: live order book, 4 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, 6 min ago	6.95 bp	50.4 bp −$50	1656.4 bp −$16.6K	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.47 bp	21.3 bp −$21	70.1 bp −$701	233.4 bp −$23.3K	doesn't fit

SQD on 9 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
Aster SQDUSDT	+0.0100%	4h	0.02876	+0.166%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02880	+0.318%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTlong	+0.0100%	4h	0.02871	long leg	$888K	$382K	20x
Gate SQD_USDT	+0.0100%	4h	0.02874	+0.104%	$606K	$31K	20x	as long as short
MEXC SQD_USDTshort	+0.0100%	4h	0.02879	+0.279%	$5.8M	$179K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02873	+0.070%	$399K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02876	+0.174%	$736K	$58K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02875	+0.139%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02878	+0.227%	$11K	$52K	—	as long as short