Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX−0.127%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on BingX 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)+0.074%+$7 · spread now −0.127%, 7d avg −0.030%

Together, before fees+0.021%+$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 0.097% cheaper against BingX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MEW-USDT	0.0004737	0.0100	pay 0.0050% / 4h	3h 56m	—	$6.7M	—
Short	OKX MEW-USDT-SWAP	0.0004731	0.0100	get 0.0050% / 4h	3h 56m	$552K	$944K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → −0.030%: −$9.7
Slippage, 4 orders: −$98.41
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$128.11
Costs to cover: 1.184%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; OKX: live order book, 39 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, 11 min ago	6.34 bp	22.2 bp −$22	72.6 bp −$726	747.0 bp −$74.7K	1075.1 bp −$537.5K
Sell OKX live order book, 39 min ago	3.16 bp	35.3 bp −$35	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	0.0004740	+0.063%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.935%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004739	+0.044%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004739	+0.042%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004731	−0.127%	$552K	$944K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004732	−0.106%	$137K	$147K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004744	+0.148%	$379K	$180K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004737	0.000%	$334K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004741	+0.084%	$491K	$553K	50x	as long as short
BingX MEW-USDTlong	+0.0100%	4h	0.0004737	long leg	—	$6.7M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004739	+0.039%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.1423%	1h	0.0004751	+0.289%	$97K	$141K	10x	as long as short