Funding arb · Price arb /

CP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX−0.070%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days+0.096%+$10 · spread now −0.070%, 7d avg −0.034%

Together, before fees+0.095%+$9 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: MEXC is 0.036% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CP-USDT-SWAP	0.01426	0.0100	pay 0.0050% / 4h	2h 55m	$4.0M	$11.9M	20x
Short	MEXC CP_USDT	0.01425	0.0100	get 0.0050% / 4h	2h 55m	$1.6M	$383K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.034%: −$3.57
Slippage, 4 orders: −$59.48
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$77.05
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; MEXC: live order book, 5 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 OKX live order book, 2 min ago	3.52 bp	22.7 bp −$23	179.1 bp −$1,791	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	3.51 bp	10.5 bp −$11	49.4 bp −$494	387.6 bp −$38.8K	doesn't fit

CP on 8 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
BloFin CP-USDT	+0.0057%	4h	0.01426	0.000%	$431	$45K	20x	as long as short
BingX CP-USDT	+0.0070%	4h	0.01426	0.000%	—	$1.1M	—	as long as short
OKX CP-USDT-SWAPlong	+0.0100%	4h	0.01426	long leg	$4.0M	$11.9M	20x
Gate CP_USDT	+0.0100%	4h	0.01426	0.000%	$614K	$509K	20x	as long as short
MEXC CP_USDTshort	+0.0100%	4h	0.01425	−0.070%	$1.6M	$383K	20x
KuCoin CPUSDTM	+0.0100%	4h	0.01428	+0.140%	$202K	$898K	20x	as long as short
Bitget CPUSDT	+0.0100%	4h	0.01427	+0.091%	$807K	$1.7M	20x	as long as short
Bybit CPUSDT	+0.0971%	4h	0.01430	+0.281%	$1.6M	$3.0M	20x	as long as short