Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Gate+0.022%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$285as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$2792.790% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.022%, 7d avg +0.082%

Together, before fees−0.004%$0 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 0.061% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.082%.

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 38m	$135K	$120K	50x
Short	OKX MEW-USDT-SWAP	0.0004620	0.0100	get 0.0050% / 4h	1h 38m	$522K	$755K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → +0.082%: −$6.06
Slippage, 4 orders: −$254.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$285.08
Costs to cover: 2.790%
Break-even: never at this rate

Slippage from Gate: live order book, 17 min ago; OKX: live order book, 23 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, 17 min ago	7.53 bp	107.9 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 23 min ago	5.38 bp	32.1 bp −$32	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	0.0004626	+0.162%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004619	0.000%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004620	+0.022%	$522K	$755K	20x
Gate MEW_USDTlong	+0.0100%	4h	0.0004619	long leg	$135K	$120K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004624	+0.108%	$384K	$174K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004624	+0.108%	$344K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004627	+0.173%	$495K	$374K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004625	+0.130%	—	$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_MEWUSD	+0.1051%	1h	0.0004628	+0.200%	$91K	$108K	10x	as long as short