Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0951%/8h= +104.1% APRpaid last 24h −0.001%

Price spread now: Kraken Futures against Gate+0.197%7-day average +0.268% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,453as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,419as in the Price arb table

costs, in and out, $10k−$1,41214.121% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.414%−$41 on $10k

Price spread, last 4 days (all we have)−0.280%−$28 · spread now +0.197%, 7d avg +0.268%

Together, before fees−0.694%−$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.071% cheaper against Gate than usual: you would sell low and buy high (spread +0.197% now, against its 7-day average of +0.268%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$29 a day). Mind the row above: over the last 7 days funding on this pair cost −0.414%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.414% in total (about -21.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MEW_USDT	0.0004619	0.0100	pay 0.0050% / 4h	1h 37m	$135K	$120K	50x
Short	Kraken Futures PF_MEWUSD	0.0004628	0.1051	get 0.0131% / 1h	37m 40s	$91K	$108K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.197%Rate

Funding earned: $199.74
Price spread: +0.197% → +0.268%: −$7.11
Slippage, 4 orders: −$1,387.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,219.45
Costs to cover: 14.121%
Break-even: 49.7 days

Slippage from Gate: live order book, 18 min ago; Kraken Futures: live order book, 24 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 Gate live order book, 18 min ago	7.53 bp	107.9 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 24 min ago	11.80 bp	61.2 bp −$61	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	0.0004610	−0.195%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−8.660%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004624	+0.108%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004620	+0.022%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004620	+0.022%	$522K	$755K	20x	as long as short
Gate MEW_USDTlong	+0.0100%	4h	0.0004619	long leg	$135K	$120K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004625	+0.130%	$384K	$174K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004623	+0.087%	$344K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004626	+0.152%	$495K	$374K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004622	+0.065%	—	$24.2M	—	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	0.0004627	+0.164%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.1051%	1h	0.0004628	+0.197%	$91K	$108K	10x