Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Gate−0.066%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$517as in the Funding arb table

Net, price: spread back to 7d avg − costs−$513as in the Price arb table

costs, in and out, $10k−$5095.095% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.066%, 7d avg −0.034%

Together, before fees−0.049%−$5 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 0.033% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1504	0.0100	pay 0.0050% / 4h	2h 55m	$230K	$542K	50x
Short	MEXC IO_USDT	0.1503	0.0100	get 0.0050% / 4h	2h 55m	$1.1M	$236K	125x

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

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 GatebpFee MEXCbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.034%: −$3.25
Slippage, 4 orders: −$490.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$512.75
Costs to cover: 5.095%
Break-even: never at this rate

Slippage from Gate: live order book, 30 min ago; MEXC: live order book, 1 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, 30 min ago	4.32 bp	248.1 bp −$248	17295.5 bp −$173.0K	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	6.67 bp	21.2 bp −$21	167.1 bp −$1,671	296.7 bp −$29.7K	doesn't fit

IO on 14 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
Injective IO/USDC PERP	−0.0157%	1h	0.1503	−0.066%	$2K	$101	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1504	0.000%	$1.0M	$399K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1504	−0.007%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1505	+0.042%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1502	−0.133%	$1.1M	$869K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1504	long leg	$230K	$542K	50x
MEXC IO_USDTshort	+0.0100%	4h	0.1503	−0.066%	$1.1M	$236K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1500	−0.266%	$380K	$652K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1504	0.000%	$1.4M	$1.1M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1504	0.000%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1502	−0.133%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1504	+0.013%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0154%	4h	0.1505	+0.066%	$193K	$30K	50x	as long as short
Kraken Futures PF_IOUSD	+0.5462%	1h	0.1505	+0.072%	$39K	$21K	10x	as long as short