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: Gate against Bybit−0.232%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$307as in the Funding arb table

Net, price: spread back to 7d avg − costs−$323as in the Price arb table

costs, in and out, $10k−$3073.071% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.232%, 7d avg −0.071%

Together, before fees+0.185%+$18 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: Gate is 0.161% cheaper against Bybit than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEWUSDT	0.0004735	0.0100	pay 0.0050% / 4h	3h 39m	$1.5M	$1.6M	25x
Short	Gate MEW_USDT	0.0004724	0.0100	get 0.0050% / 4h	3h 39m	$137K	$148K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.232%Rate

Funding earned: $0
Price spread: −0.232% → −0.071%: −$16.13
Slippage, 4 orders: −$281.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$323.24
Costs to cover: 3.071%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 51 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 Bybit live order book, 2 min ago	7.40 bp	33.1 bp −$33	176.5 bp −$1,765	doesn't fit	doesn't fit
Sell Gate live order book, 51 min ago	9.48 bp	161.9 bp −$162	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	0.0004730	−0.106%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.898%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004737	+0.042%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDTlong	+0.0100%	4h	0.0004735	long leg	$1.5M	$1.6M	25x
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004733	−0.042%	$551K	$947K	20x	as long as short
Gate MEW_USDTshort	+0.0100%	4h	0.0004724	−0.232%	$137K	$148K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004740	+0.106%	$378K	$181K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004739	+0.084%	$334K	$117K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004743	+0.169%	$490K	$556K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004734	−0.021%	—	$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	0.0004729	−0.122%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.1418%	1h	0.0004769	+0.727%	$97K	$141K	10x	as long as short