Funding arb · Price arb /

ELSA

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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 +0.005%

Price spread now: MEXC against Gate−0.143%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$564as in the Funding arb table

Net, price: spread back to 7d avg − costs−$610as in the Price arb table

costs, in and out, $10k−$5885.881% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.143%, 7d avg +0.074%

Together, before fees+0.450%+$45 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 0.217% cheaper against Gate than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ELSA_USDT	0.05599	0.0100	pay 0.0050% / 4h	2h 39m	$144K	$48K	20x
Short	MEXC ELSA_USDT	0.05591	0.0100	get 0.0050% / 4h	2h 39m	$505K	$122K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → +0.074%: −$21.66
Slippage, 4 orders: −$569.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$609.73
Costs to cover: 5.881%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; MEXC: live order book, 65 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 Gate live order book, 1 min ago	7.14 bp	287.6 bp −$288	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 65 min ago	2.67 bp	9.9 bp −$10	87.2 bp −$872	320.9 bp −$32.1K	doesn't fit

ELSA on 9 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
Binance ELSAUSDT	+0.0100%	4h	0.05592	−0.127%	$1.3M	$1.2M	20x	as long as short
Gate ELSA_USDTlong	+0.0100%	4h	0.05599	long leg	$144K	$48K	20x
MEXC ELSA_USDTshort	+0.0100%	4h	0.05591	−0.143%	$505K	$122K	50x
KuCoin ELSAUSDTM	+0.0100%	4h	0.05585	−0.250%	$185K	$23K	20x	as long as short
Variational Omni ELSA	+0.0100%	4h	0.05604	+0.083%	$1K	$461	—	as long as short
Bitget ELSAUSDT	+0.0298%	4h	0.05601	+0.036%	$467K	$164K	20x	as long as short
Aster ELSAUSDT	+0.0314%	4h	0.05592	−0.125%	$32K	$5K	5x	as long as short
BingX ELSA-USDT	+0.1010%	4h	0.05597	−0.036%	—	$1.3M	—	as long as short
Bybit ELSAUSDT	+0.1016%	4h	0.05588	−0.196%	$834K	$299K	20x	as long as short