Funding arb · Price arb /

M

all M markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0766%/8h= +83.9% APRpaid last 24h +0.178%

Price spread now: MEXC against Gate+0.096%7-day average +0.148% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1311.314% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.481%+$48 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.096%, 7d avg +0.148%

Together, before fees+0.526%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.053% cheaper against Gate than usual: you would sell low and buy high (spread +0.096% now, against its 7-day average of +0.148%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.481% in total) that is about 18 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.481% in total (about 25.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate M_USDT	1.3590	0.0100	pay 0.0100% / 8h	2h 41m	$1.8M	$893K	10x
Short	MEXC M_USDT	1.3603	0.0866	get 0.0433% / 4h	2h 41m	$226K	$107K	50x

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 +0.096%Rate

Funding earned: $160.86
Price spread: +0.096% → +0.148%: −$5.28
Slippage, 4 orders: −$112.43
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: $24.15
Costs to cover: 1.314%
Break-even: 5.9 days

Slippage from Gate: live order book, 1 min ago; MEXC: 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 Gate live order book, 1 min ago	8.46 bp	53.4 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 53 min ago	1.06 bp	25.5 bp −$26	47.0 bp −$470	119.0 bp −$11.9K	doesn't fit

M on 12 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
Gate M_USDTlong	+0.0100%	8h	1.3590	long leg	$1.8M	$893K	10x
Bitget MUSDT	+0.0100%	4h	1.3613	+0.169%	$1.8M	$249K	10x	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.3611	+0.155%	$2K	$510	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.3627	+0.272%	$1K	$819K	20x	as long as short
Aster MUSDT	+0.0568%	4h	1.3602	+0.090%	$14K	$83K	5x	as long as short
Variational Omni M	+0.0614%	4h	1.3625	+0.255%	$84K	$43K	—	as long as short
BloFin M-USDT	+0.0844%	4h	1.3606	+0.118%	$349K	$438K	10x	as long as short
Binance MUSDT	+0.0863%	4h	1.3596	+0.044%	$5.3M	$3.9M	10x	as long as short
MEXC M_USDTshort	+0.0866%	4h	1.3603	+0.096%	$226K	$107K	50x
Bybit MUSDT	+0.0888%	4h	1.3604	+0.103%	$4.2M	$1.8M	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX M-USDT	+0.0902%	4h	1.3599	+0.066%	—	$2.4M	—	as long as short
KuCoin MUSDTM	+0.2166%	4h	1.3501	−0.656%	$1.4M	$3.8M	10x	as long as short