Funding you earn now, next payment 05:00 UTC−0.1019%/8h= −111.5% APRpaid last 24h +0.012%
Price spread now: MEXC against Backpack−0.128%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 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 −$31 a day on $10k at the current rate, and MEXC is 0.128% cheaper against Backpack than usual: you would sell low and buy high (−$13 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 | Backpack W_USDC_PERP | 0.01171 | 0.1119 | pay 0.0140% / 1h | 2m 07s | $43K | $42K | 15x |
| Short | MEXC W_USDT | 0.01170 | 0.0100 | get 0.0050% / 4h | 3h 02m | $12.4M | $1.4M | 50x |
Backpack W_USDC_PERP
MEXC W_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Backpack. 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
- −$213.89
- Price spread: −0.128% → 0.000%
- −$12.81
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$240.69
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; MEXC: live order book, 1 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 Backpack no order-book sample | — | — | — | — | — |
| Sell MEXC live order book, 1 min ago | 0.86 bp | 15.2 bp −$15 | 59.5 bp −$595 | 81.9 bp −$8,191 | 179.1 bp −$89.6K |
Backpack: 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0177% | 1h | 0.01170 | −0.120% | $14K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +3.219% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01170 | −0.111% | $2.0M | $305K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01168 | −0.239% | $2.9M | $5.6M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01167 | −0.350% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01168 | −0.273% | $1.3M | $1.6M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01168 | −0.282% | $428K | $260K | 75x | as long as short |
| MEXC W_USDTshort | +0.0100% | 4h | 0.01170 | −0.128% | $12.4M | $1.4M | 50x | |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01168 | −0.282% | $382K | $198K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01170 | −0.111% | $1.3M | $548K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01168 | −0.256% | — | $6.7M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01173 | +0.149% | $71K | $39K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01174 | +0.231% | $126K | $386K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01170 | −0.151% | $60K | $151K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0440% | 1h | 0.01170 | −0.094% | $14K | $14K | 50x | as long as short |
| Backpack W_USDC_PERPlong | +0.1119% | 1h | 0.01171 | long leg | $43K | $42K | 15x | |
| Kraken Futures PF_WUSD | +0.1786% | 1h | 0.01172 | +0.067% | $145K | $185K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD