Funding arb · Price arb /

MAGIC

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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: MEXC against KuCoin−0.060%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$288as in the Funding arb table

Net, price: spread back to 7d avg − costs−$300as in the Price arb table

costs, in and out, $10k−$2952.951% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.060%, 7d avg −0.015%

Together, before fees+0.106%+$11 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 0.045% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MAGICUSDTM	0.04988	0.0100	pay 0.0050% / 4h	1h 13m	$182K	$25K	25x
Short	MEXC MAGIC_USDT	0.04985	0.0100	get 0.0050% / 4h	1h 13m	$209K	$118K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.015%: −$4.52
Slippage, 4 orders: −$279.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$299.66
Costs to cover: 2.951%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; MEXC: live order book, 22 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 KuCoin live order book, 6 min ago	13.02 bp	127.4 bp −$127	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 22 min ago	1.01 bp	8.5 bp −$8	34.8 bp −$348	105.3 bp −$10.5K	367.2 bp −$183.6K

MAGIC on 10 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 MAGIC-USDT	+0.0083%	4h	0.04987	−0.020%	$85K	$7K	50x	as long as short
Binance MAGICUSDT	+0.0100%	4h	0.04984	−0.080%	$1.6M	$1.7M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04986	−0.040%	$514K	$146K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04981	−0.140%	$473K	$726K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04985	−0.060%	$126K	$27K	50x	as long as short
MEXC MAGIC_USDTshort	+0.0100%	4h	0.04985	−0.060%	$209K	$118K	50x
KuCoin MAGICUSDTMlong	+0.0100%	4h	0.04988	long leg	$182K	$25K	25x
Bitget MAGICUSDT	+0.0100%	4h	0.04991	+0.060%	$422K	$73K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04987	−0.020%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04991	+0.051%	$8K	$555	—	as long as short