PHA: MEXC → Bybit

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+53%

APR right now

Price gap

+0.059%

between legs

Average spread

+48%

over 24h from our own samples

Over 7 days

+48%

samples: 108

MEXCLONG

Bid / ask0.05063 / 0.05065

Mark price0.05074

Volume 24h$8.66M

Open interest$1.81M

Rate+0.0050%

APR+11%

Interval / next payout4h / 3h 22m

MEXC

BybitSHORT

Bid / ask0.05068 / 0.05073

Mark price0.0507

Volume 24h$23.07M

Open interest$2.10M

Rate+0.0291%

APR+64%

Interval / next payout4h / 3h 22m

Bybit

Spread from our samples

spread over the period: from 0% to 141% APR, 108 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.