Funding arb · Price arb /

FOGO

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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 0.000%

Price spread now: Bitget against MEXC−0.187%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1371.375% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now −0.187%, 7d avg −0.001%

Together, before fees+0.221%+$22 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: Bitget is 0.186% cheaper against MEXC than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC FOGO_USDT	0.006953	0.0100	pay 0.0050% / 4h	2h 29m	$322K	$124K	50x
Short	Bitget FOGOUSDT	0.006940	0.0100	get 0.0050% / 4h	2h 29m	$131K	$90K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.187%Rate

Funding earned: $0
Price spread: −0.187% → −0.001%: −$18.55
Slippage, 4 orders: −$121.47
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$156.02
Costs to cover: 1.375%
Break-even: never at this rate

Slippage from MEXC: live order book, 20 min ago; Bitget: live order book, 30 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, 20 min ago	2.17 bp	12.2 bp −$12	65.2 bp −$652	214.8 bp −$21.5K	doesn't fit
Sell Bitget live order book, 30 min ago	14.51 bp	52.4 bp −$52	337.0 bp −$3,370	doesn't fit	doesn't fit

FOGO on 13 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
Lighter FOGO	+0.0096%	1h	0.006959	+0.086%	$11K	$9K	3x	as long as short
Hyperliquid FOGO	+0.0100%	1h	0.006943	−0.144%	$711K	$306K	3x	as long as short
Aster FOGOUSDT	+0.0100%	4h	0.006945	−0.109%	$13K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006950	−0.043%	$1.9M	$2.0M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006949	−0.058%	$765K	$182K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006946	−0.101%	$524K	$848K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006940	−0.187%	$110K	$46K	50x	as long as short
MEXC FOGO_USDTlong	+0.0100%	4h	0.006953	long leg	$322K	$124K	50x
KuCoin FOGOUSDTM	+0.0100%	4h	0.006940	−0.187%	$286K	$93K	50x	as long as short
Bitget FOGOUSDTshort	+0.0100%	4h	0.006940	−0.187%	$131K	$90K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006946	−0.101%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006931	−0.310%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006940	−0.187%	$2K	$1.2M	20x	as long as short