Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against GMX−0.085%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.085% cheaper against GMX than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEW/USD [WBTC.b-USDC]	0.0004700	L 0.0000% / S 0.0000%	get 0.0000% / 1h	26m 18s	—	—	100x
Short	BingX MEW-USDT	0.0004696	0.0100	get 0.0050% / 4h	26m 18s	—	$24.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $21
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$9.51
Costs to cover: 0.220%
Break-even: 10.2 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 12 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 12 min ago	6.49 bp	20.4 bp −$20	61.1 bp −$611	628.2 bp −$62.8K	969.9 bp −$484.9K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L 0.0000% / S 0.0000%	1h	0.0004700	long leg	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.234%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004707	+0.143%	$1.2M	$3.0M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004702	+0.043%	$1.4M	$1.3M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004701	+0.021%	$532K	$794K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004691	−0.191%	$137K	$121K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004707	+0.149%	$389K	$175K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004700	0.000%	$331K	$122K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004706	+0.128%	$492K	$373K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004696	−0.085%	—	$24.2M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004659	−0.868%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0947%	1h	0.0004727	+0.564%	$92K	$113K	10x	as long as short