Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: GMX against Binance−0.172%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GMX is 0.172% cheaper against Binance than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004708	0.0100	pay 0.0050% / 4h	25m 35s	$1.2M	$3.0M	50x
Short	GMX MEW/USD [WBTC.b-USDC]	0.0004700	L 0.0000% / S 0.0000%	get 0.0000% / 1h	25m 35s	—	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$21
Price spread: −0.172% → 0.000%: −$17.2
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$60.2
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; GMX: no order-book sample. Net counts fees only.

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	3.23 bp	25.5 bp −$25	216.2 bp −$2,162	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L 0.0000% / S 0.0000%	1h	0.0004700	−0.172%	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.388%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004708	long leg	$1.2M	$3.0M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004703	−0.108%	$1.4M	$1.3M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004700	−0.172%	$531K	$795K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004702	−0.130%	$137K	$121K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004707	−0.023%	$389K	$175K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004700	−0.172%	$331K	$122K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004706	−0.045%	$492K	$373K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004701	−0.151%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004702	−0.137%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0947%	1h	0.0004727	+0.391%	$92K	$113K	10x	as long as short