Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0020%/8hpaid last 24h −0.029%

Price spread now: MEXC against Coinbase International−0.426%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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 −$1 a day on $10k at the current rate, and MEXC is 0.426% cheaper against Coinbase International than usual: you would sell low and buy high (−$43 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	Coinbase International W-PERP-INTX	0.01175	0.0120	pay 0.0015% / 1h	32m 21s	$14K	$19K	50x
Short	MEXC W_USDT	0.01170	0.0100	get 0.0050% / 4h	32m 21s	$12.9M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now −0.426%Rate

Funding earned: −$4.2
Price spread: −0.426% → 0.000%: −$42.56
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$60.76
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 8 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 Coinbase International no order-book sample	—	—	—	—	—
Sell MEXC live order book, 8 min ago	4.27 bp	10.2 bp −$10	56.3 bp −$563	94.1 bp −$9,407	159.4 bp −$79.7K

Coinbase International: 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	0.0000%	1h	0.01170	−0.383%	$18K	$351	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.920%	$1K	$10K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01170	−0.400%	$2.0M	$511K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01169	−0.444%	$2.9M	$8.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01167	−0.630%	$4.1M	$2.2M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01169	−0.511%	$1.3M	$2.3M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01168	−0.545%	$442K	$321K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01170	−0.426%	$12.9M	$1.8M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01167	−0.655%	$412K	$243K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01170	−0.400%	$1.2M	$577K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01169	−0.485%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01171	−0.358%	$37K	$48K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01166	−0.774%	$70K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01169	−0.450%	$121K	$449K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01169	−0.459%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTXlong	+0.0120%	1h	0.01175	long leg	$14K	$19K	50x
Kraken Futures PF_WUSD	+0.1076%	1h	0.01172	−0.195%	$145K	$189K	20x	as long as short