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 Bybit+0.126%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.126%, 7d avg +0.008%

Together, before fees−0.158%−$16 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 0.119% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEWUSDT	0.0004752	0.0100	pay 0.0050% / 4h	38m 52s	$1.5M	$1.6M	25x
Short	OKX MEW-USDT-SWAP	0.0004758	0.0100	get 0.0050% / 4h	38m 52s	$551K	$934K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → +0.008%: $11.85
Slippage, 4 orders: −$109.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$118.74
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 62 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	3.14 bp	32.8 bp −$33	76.7 bp −$767	doesn't fit	doesn't fit
Sell OKX live order book, 62 min ago	4.24 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	0.0004750	−0.042%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.216%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004757	+0.105%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDTlong	+0.0100%	4h	0.0004752	long leg	$1.5M	$1.6M	25x
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004758	+0.126%	$551K	$934K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004742	−0.210%	$139K	$146K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004755	+0.063%	$382K	$181K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004763	+0.231%	$337K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004755	+0.063%	$491K	$547K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004747	−0.105%	—	$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	0.0004789	+0.769%	$85K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0745%	1h	0.0004762	+0.214%	$95K	$137K	10x	as long as short