BTW

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0778%/8h= −85.2% APRnext payment −$3.89 per $10,000 · paid last 24h −0.144%

Price spread now: Gate against MEXC+0.528%7-day average −0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$1091.090% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.347%−$35 on $10k

Price spread, last 7 days−0.348%−$35 · spread now +0.528%, 7d avg −0.159%

Together, before fees−0.695%−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.687% dearer against MEXC than usual: you sell high and buy low (spread +0.528% now, against its 7-day average of −0.159%): +$69 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.347% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.347% in total (about -18.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.89 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTW_USDT	0.7556	0.0878	pay 0.0439% / 4h	2h 07m	$8.9M	$6.3M	20x
Short	Gate BTW_USDT	0.7596	0.0100	get 0.0050% / 4h	2h 07m	$3.2M	$16.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now +0.528%Rate

Funding earned: −$163.38
Price spread: +0.528% → −0.159%: $68.72
Slippage, 4 orders: −$94.02
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$203.68
Costs to cover: 1.090%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Gate: live order book, 2 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	1.96 bp	13.2 bp −$13	44.5 bp −$445	233.8 bp −$23.4K	809.1 bp −$404.6K
Sell Gate live order book, 2 min ago	9.75 bp	45.8 bp −$46	72.3 bp −$723	doesn't fit	doesn't fit

BTW on 11 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
Gate BTW_USDTshort	+0.0100%	4h	0.7596	+0.528%	$3.2M	$16.5M	10x
HTX BTW-USDT	+0.0100%	4h	0.7614	+0.768%	$188K	$743K	10x	as long as short
KuCoin BTWUSDTM	+0.0198%	4h	0.7573	+0.219%	$6.9M	$4.8M	10x	as long as short
Bitget BTWUSDT	+0.0600%	4h	0.7579	+0.300%	$23.8M	$13.7M	5x	as long as short
Aster BTWUSDT	+0.0729%	4h	0.7576	+0.264%	$2.1M	$3.0M	5x	as long as short
Bybit BTWUSDT	+0.0767%	4h	0.7558	+0.030%	$14.3M	$39.4M	10x	as long as short
BingX BTW-USDT	+0.0834%	4h	0.7555	−0.013%	—	$4.3M	—	as long as short
Extended BTW-USD	+0.0872%	1h	0.7574	+0.243%	$33K	$15K	5x	as long as short
Binance BTWUSDT	+0.0873%	4h	0.7554	−0.024%	$105.0M	$170.9M	10x	as long as short
edgeX BTWUSDC	+0.0877%	4h	0.7658	+1.356%	$316K	$500K	10x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BTW_USDTlong	+0.0878%	4h	0.7556	long leg	$8.9M	$6.3M	20x