Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC+0.035%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1101.104% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.034%−$3 · spread now +0.035%, 7d avg −0.003%

Together, before fees−0.034%−$3 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: Binance is 0.038% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02869	0.0100	pay 0.0050% / 4h	3h 27m	$5.8M	$183K	50x
Short	Binance SQDUSDT	0.02870	0.0100	get 0.0050% / 4h	3h 27m	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.003%: $3.75
Slippage, 4 orders: −$96.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$106.64
Costs to cover: 1.104%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Binance: live order book, 6 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, 5 min ago	3.50 bp	17.9 bp −$18	76.7 bp −$767	244.8 bp −$24.5K	doesn't fit
Sell Binance live order book, 6 min ago	3.50 bp	37.1 bp −$37	133.6 bp −$1,336	doesn't fit	doesn't fit

SQD on 10 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	0.02859	−0.346%	$15K	$928	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02870	+0.035%	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02857	−0.418%	$881K	$330K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02857	−0.418%	$602K	$28K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02869	long leg	$5.8M	$183K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02857	−0.418%	$396K	$1.2M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02864	−0.174%	$740K	$55K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02862	−0.244%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02846	−0.818%	$7K	$33K	—	as long as short
BloFin SQD-USDT	+0.0128%	4h	0.02862	−0.244%	$80K	$29K	50x	as long as short