Funding arb · Price arb /

MEW

all MEW markets

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: BingX against Binance−0.086%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$860.856% of the position

Long on Binance Short on BingX

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)+0.130%+$13 · spread now −0.086%, 7d avg −0.038%

Together, before fees+0.130%+$13 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: BingX is 0.048% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004656	0.0100	pay 0.0050% / 4h	3h 40m	$1.2M	$2.8M	50x
Short	BingX MEW-USDT	0.0004652	0.0100	get 0.0050% / 4h	3h 40m	—	$24.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → −0.038%: −$4.84
Slippage, 4 orders: −$65.6
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$90.44
Costs to cover: 0.856%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; BingX: live order book, 8 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 Binance live order book, 10 min ago	2.15 bp	23.3 bp −$23	199.6 bp −$1,996	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.36 bp	19.0 bp −$19	57.4 bp −$574	637.4 bp −$63.7K	1026.4 bp −$513.2K

MEW 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004650	−0.129%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.386%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004656	long leg	$1.2M	$2.8M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004651	−0.107%	$1.5M	$1.1M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004648	−0.172%	$524K	$701K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004645	−0.236%	$124K	$80K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004656	0.000%	$385K	$173K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004653	−0.064%	$339K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004651	−0.107%	$492K	$365K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004652	−0.086%	—	$24.2M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004658	+0.049%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0691%	1h	0.0004661	+0.107%	$91K	$108K	10x	as long as short