Funding arb · Price arb /

MEW

all MEW markets

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 Binance−0.094%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1181.181% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.094%, 7d avg −0.066%

Together, before fees+0.003%$0 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 0.029% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004661	0.0100	pay 0.0050% / 4h	2h 36m	$1.3M	$3.4M	50x
Short	OKX MEW-USDT-SWAP	0.0004657	0.0100	get 0.0050% / 4h	2h 36m	$538K	$878K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.066%: −$2.86
Slippage, 4 orders: −$98.08
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$120.94
Costs to cover: 1.181%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 10 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, 15 min ago	2.11 bp	20.0 bp −$20	204.2 bp −$2,042	doesn't fit	doesn't fit
Sell OKX live order book, 10 min ago	3.18 bp	36.7 bp −$37	doesn't fit	doesn't fit	doesn't fit

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	−0.245%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.491%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004661	long leg	$1.3M	$3.4M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004658	−0.073%	$1.4M	$1.5M	25x	as long as short
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004657	−0.094%	$538K	$878K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004659	−0.051%	$135K	$140K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004663	+0.034%	$354K	$182K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004661	−0.009%	$324K	$128K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004657	−0.094%	$486K	$526K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004658	−0.073%	—	$6.7M	—	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	0.0004689	+0.597%	$83K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0422%	1h	0.0004663	+0.039%	$89K	$127K	10x	as long as short