Funding arb · Price arb /

MAGIC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC0.000%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$630.631% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now 0.000%, 7d avg +0.047%

Together, before fees+0.016%+$2 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 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MAGIC_USDT	0.04929	0.0100	pay 0.0050% / 4h	2h 39m	$198K	$113K	50x
Short	OKX MAGIC-USDT-SWAP	0.04929	0.0100	get 0.0050% / 4h	2h 39m	$468K	$708K	20x

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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.047%: −$4.66
Slippage, 4 orders: −$49.06
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$67.72
Costs to cover: 0.631%
Break-even: never at this rate

Slippage from MEXC: live order book, 47 min ago; OKX: live order book, 7 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, 47 min ago	3.02 bp	10.9 bp −$11	32.1 bp −$321	100.7 bp −$10.1K	335.2 bp −$167.6K
Sell OKX live order book, 7 min ago	2.02 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

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	+0.0094%	4h	0.04942	+0.264%	$83K	$6K	50x	as long as short
Binance MAGICUSDT	+0.0100%	4h	0.04930	+0.020%	$1.6M	$1.6M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04932	+0.061%	$506K	$148K	25x	as long as short
OKX MAGIC-USDT-SWAPshort	+0.0100%	4h	0.04929	0.000%	$468K	$708K	20x
Gate MAGIC_USDT	+0.0100%	8h	0.04936	+0.142%	$126K	$25K	50x	as long as short
MEXC MAGIC_USDTlong	+0.0100%	4h	0.04929	long leg	$198K	$113K	50x
KuCoin MAGICUSDTM	+0.0100%	4h	0.04935	+0.122%	$184K	$26K	25x	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04938	+0.187%	$8K	$555	—	as long as short
Bitget MAGICUSDT	+0.0112%	4h	0.04937	+0.162%	$422K	$80K	25x	as long as short
BingX MAGIC-USDT	+0.0128%	4h	0.04929	0.000%	—	$2.3M	—	as long as short