Funding arb · Price arb /

SQD

all SQD markets

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: Bybit against MEXC−0.277%7-day average −0.228% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1531.532% of the position

Long on MEXC Short on Bybit

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)+0.065%+$6 · spread now −0.277%, 7d avg −0.228%

Together, before fees+0.065%+$6 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: Bybit is 0.048% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.228%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02893	0.0100	pay 0.0050% / 4h	3h 31m	$5.9M	$174K	50x
Short	Bybit SQDUSDT	0.02885	0.0100	get 0.0050% / 4h	3h 31m	$897K	$441K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.277%Rate

Funding earned: $0
Price spread: −0.277% → −0.228%: −$4.82
Slippage, 4 orders: −$138.24
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$158.06
Costs to cover: 1.532%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: live order book, 38 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, 1 min ago	3.46 bp	22.7 bp −$23	69.8 bp −$698	233.7 bp −$23.4K	doesn't fit
Sell Bybit live order book, 38 min ago	10.42 bp	53.2 bp −$53	214.3 bp −$2,143	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	0.02889	−0.132%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02894	+0.035%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02885	−0.277%	$897K	$441K	20x
Gate SQD_USDT	+0.0100%	4h	0.02887	−0.207%	$608K	$41K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02893	long leg	$5.9M	$174K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02891	−0.069%	$405K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02891	−0.069%	$740K	$70K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02889	−0.138%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02884	−0.309%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0155%	4h	0.02897	+0.138%	$82K	$41K	50x	as long as short