Funding arb · Price arb /

INIT

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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: OKX against MEXC+0.036%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1211.214% of the position

Long on MEXC Short on OKX

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)+0.001%$0 · spread now +0.036%, 7d avg −0.009%

Together, before fees+0.001%$0 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: OKX is 0.046% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08303	0.0100	pay 0.0050% / 4h	3h 17m	$451K	$220K	20x
Short	OKX INIT-USDT-SWAP	0.08306	0.0100	get 0.0050% / 4h	3h 17m	$137K	$645K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.009%: $4.56
Slippage, 4 orders: −$107.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$116.88
Costs to cover: 1.214%
Break-even: never at this rate

Slippage from MEXC: live order book, 46 min ago; OKX: live order book, 53 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, 46 min ago	0.61 bp	19.9 bp −$20	88.3 bp −$883	244.2 bp −$24.4K	doesn't fit
Sell OKX live order book, 53 min ago	4.85 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit

INIT 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
BloFin INIT-USDT	+0.0065%	4h	0.08280	−0.277%	$154K	$112K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08303	−0.004%	$302K	$234K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08260	−0.520%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08305	+0.024%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08298	−0.060%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08306	+0.036%	$137K	$645K	10x
Gate INIT_USDT	+0.0100%	8h	0.08282	−0.253%	$84K	$55K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08303	long leg	$451K	$220K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08288	−0.181%	$330K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08300	−0.036%	$432K	$304K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08300	−0.036%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08255	−0.576%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0191%	1h	0.08298	−0.060%	$5K	$17K	10x	as long as short