Funding arb · Price arb /

ERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.055%

Price spread now: MEXC against Gate−0.059%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1451.445% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.059%, 7d avg −0.017%

Together, before fees+0.012%+$1 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 0.041% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ERA_USDT	0.06813	0.0100	pay 0.0050% / 4h	1h 16m	$150K	$690K	25x
Short	MEXC ERA_USDT	0.06809	0.0100	get 0.0050% / 4h	1h 16m	$536K	$151K	20x

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

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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 GatebpFee MEXCbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.017%: −$4.14
Slippage, 4 orders: −$125.52
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$148.66
Costs to cover: 1.445%
Break-even: never at this rate

Slippage from Gate: live order book, 45 min ago; MEXC: live order book, 29 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, 45 min ago	8.85 bp	56.8 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 29 min ago	2.21 bp	15.0 bp −$15	62.1 bp −$621	753.0 bp −$75.3K	doesn't fit

ERA 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
Aster ERAUSDT	+0.0100%	4h	0.06807	−0.095%	$5K	$12K	5x	as long as short
Binance ERAUSDT	+0.0100%	4h	0.06814	+0.015%	$2.1M	$4.5M	25x	as long as short
Bybit ERAUSDT	+0.0100%	4h	0.06816	+0.044%	$773K	$818K	25x	as long as short
Gate ERA_USDTlong	+0.0100%	4h	0.06813	long leg	$150K	$690K	25x
MEXC ERA_USDTshort	+0.0100%	4h	0.06809	−0.059%	$536K	$151K	20x
KuCoin ERAUSDTM	+0.0100%	4h	0.06809	−0.059%	$139K	$65K	25x	as long as short
Bitget ERAUSDT	+0.0100%	4h	0.06825	+0.176%	$825K	$238K	25x	as long as short
BingX ERA-USDT	+0.0100%	4h	0.06816	+0.044%	—	$6.5M	—	as long as short
Variational Omni ERA	+0.0100%	4h	0.06805	−0.121%	$10K	$594	—	as long as short