Funding arb · Price arb /

ELSA

all ELSA markets

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: KuCoin against MEXC−0.161%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,869as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,852as in the Price arb table

costs, in and out, $10k−$1,84518.453% of the position

Long on MEXC Short on KuCoin

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)+0.009%+$1 · spread now −0.161%, 7d avg −0.093%

Together, before fees−0.233%−$23 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: KuCoin is 0.067% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ELSA_USDT	0.05596	0.0100	pay 0.0050% / 4h	22m 37s	$504K	$118K	50x
Short	KuCoin ELSAUSDTM	0.05587	0.0100	get 0.0050% / 4h	22m 37s	$187K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against MEXC. 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 MEXCbpFee KuCoinbpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → −0.093%: −$6.75
Slippage, 4 orders: −$1,829.3
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,852.05
Costs to cover: 18.453%
Break-even: never at this rate

Slippage from MEXC: live order book, 7 min ago; KuCoin: live order book, 8 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, 7 min ago	4.46 bp	11.3 bp −$11	76.3 bp −$763	450.4 bp −$45.0K	doesn't fit
Sell KuCoin live order book, 8 min ago	16.95 bp	480.7 bp −$481	doesn't fit	doesn't fit	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	0.05599	+0.054%	$1.3M	$1.2M	20x	as long as short
Gate ELSA_USDT	+0.0100%	4h	0.05591	−0.089%	$144K	$52K	20x	as long as short
MEXC ELSA_USDTlong	+0.0100%	4h	0.05596	long leg	$504K	$118K	50x
KuCoin ELSAUSDTMshort	+0.0100%	4h	0.05587	−0.161%	$187K	$23K	20x
Variational Omni ELSA	+0.0100%	4h	0.05586	−0.179%	$1K	$461	—	as long as short
Aster ELSAUSDT	+0.0368%	4h	0.05597	+0.014%	$32K	$7K	5x	as long as short
Bitget ELSAUSDT	+0.0460%	4h	0.05600	+0.071%	$458K	$153K	20x	as long as short
BingX ELSA-USDT	+0.1130%	4h	0.05596	0.000%	—	$1.3M	—	as long as short
Bybit ELSAUSDT	+0.1166%	4h	0.05596	0.000%	$832K	$320K	20x	as long as short