Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0585%/8h= +64.0% APRpaid last 24h −0.021%

Price spread now: Kraken Futures against BingX+0.279%53s7-day average +0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,049as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$9999.987% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now +0.279%, 7d avg +0.152%

Together, before fees−0.487%−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Kraken Futures is 0.127% dearer against BingX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.152%. Mind the row above: over the last 7 days funding on this pair cost −0.504%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MEW-USDT	0.0004687	0.0100	pay 0.0050% / 4h	3h 56m	—	$24.2M	—
Short	Kraken Futures PF_MEWUSD	0.0004700	0.0685	get 0.0086% / 1h	56m 26s	$92K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.279%Rate

Funding earned: $122.84
Price spread: +0.279% → +0.152%: $12.7
Slippage, 4 orders: −$978.66
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$863.13
Costs to cover: 9.987%
Break-even: 56.2 days

Slippage from BingX: live order book, 2 min ago; Kraken Futures: live order book, 16 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 BingX live order book, 2 min ago	6.37 bp	22.7 bp −$23	60.7 bp −$607	655.2 bp −$65.5K	970.3 bp −$485.1K
Sell Kraken Futures live order book, 16 min ago	11.76 bp	57.1 bp −$57	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	0.0004690	+0.064%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.985%	$46	$14K	5.5x	as long as short
Bybit MEWUSDT	+0.0085%	4h	0.0004688	+0.021%	$1.5M	$1.0M	25x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004682	−0.107%	$1.2M	$2.7M	50x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004679	−0.171%	$525K	$693K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004689	+0.043%	$124K	$77K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004683	−0.085%	$388K	$172K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004688	+0.021%	$342K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004691	+0.085%	$490K	$362K	50x	as long as short
BingX MEW-USDTlong	+0.0100%	4h	0.0004687	long leg	—	$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	0.0004693	+0.136%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0685%	1h	0.0004700	+0.279%	$92K	$130K	10x