Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.010%

Price spread now: MEXC against OKX−0.049%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.049%, 7d avg +0.018%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.067% cheaper against OKX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX FET-USDT-SWAP	0.2057	0.0248	pay 0.0124% / 4h	1h 13m	$1.0M	$8.3M	20x
Short	MEXC FET_USDT	0.2056	0.0100	get 0.0100% / 8h	5h 13m	$30.8M	$24.3M	200x

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 −0.049%Rate

Funding earned: −$31.11
Price spread: −0.049% → +0.018%: −$6.66
Slippage, 4 orders: −$26.96
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$74.73
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; MEXC: live order book, 6 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, 5 min ago	4.85 bp	19.4 bp −$19	57.3 bp −$573	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	2.43 bp	2.4 bp −$2	10.5 bp −$105	48.5 bp −$4,854	173.7 bp −$86.9K

FET on 20 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
Deribit FET_USDC-PERPETUAL	−0.3626%	1h	0.2056	−0.049%	$39K	$294K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0872%	1h	0.2061	+0.194%	$152K	$232K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0015%	1h	0.2059	+0.096%	$23K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.285%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2060	+0.136%	$215K	$771K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2057	−0.017%	$31.9M	$112.2M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2059	+0.097%	$2.8M	$12.5M	50x	as long as short
MEXC FET_USDTshort	+0.0100%	8h	0.2056	−0.049%	$30.8M	$24.3M	200x
KuCoin FETUSDTM	+0.0100%	8h	0.2056	−0.049%	$10.8M	$18.9M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2060	+0.151%	$345K	$424K	—	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_FET_USDC	+0.0100%	8h	0.2058	+0.049%	$39K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2059	+0.084%	$34K	$252K	10x	as long as short
Kraken Futures PF_FETUSD	+0.0113%	1h	0.2059	+0.098%	$1.0M	$2.2M	50x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0202% / S −0.0278%	1h	0.2059	+0.105%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2057	0.000%	$1.7M	$3.0M	100x	as long as short
OKX FET-USDT-SWAPlong	+0.0248%	4h	0.2057	long leg	$1.0M	$8.3M	20x
BingX FET-USDT	+0.0385%	8h	0.2061	+0.194%	—	$5.9M	—	as long as short
Bitget FETUSDT	+0.0388%	8h	0.2058	+0.049%	$16.7M	$11.8M	75x	as long as short
Hyperliquid FET	+0.0512%	1h	0.2062	+0.226%	$9.0M	$8.4M	5x	as long as short
Phoenix FET	+0.0669%	1h	0.2058	+0.053%	$36K	$39K	5x	as long as short