Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: MEXC against Injective+10.239%70s7-day average — · you sell dearer than you buy

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 10.239% dearer against Injective than usual: you sell high and buy low: +$1,024 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MEW/USDC PERP	0.0004219	0.0033	pay 0.0004% / 1h	38m 07s	$46	$14K	5.5x
Short	MEXC MEW_USDT	0.0004651	0.0100	get 0.0050% / 4h	3h 38m	$385K	$173K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now +10.239%Rate

Funding earned: $14
Price spread: +10.239% → 0.000%: $1,023.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $1,033.92
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 17 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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 17 min ago	1.07 bp	14.5 bp −$14	57.0 bp −$570	198.0 bp −$19.8K	doesn't fit

Injective: 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]	L 0.0000% / S 0.0000%	1h	0.0004640	+9.979%	—	—	100x	as long as short
Injective MEW/USDC PERPlong	+0.0033%	1h	0.0004219	long leg	$46	$14K	5.5x
Binance MEWUSDT	+0.0100%	4h	0.0004651	+10.228%	$1.2M	$2.8M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004649	+10.192%	$1.5M	$1.1M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004646	+10.121%	$523K	$701K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004642	+10.026%	$124K	$80K	50x	as long as short
MEXC MEW_USDTshort	+0.0100%	4h	0.0004651	+10.239%	$385K	$173K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004649	+10.192%	$339K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004649	+10.192%	$492K	$365K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004647	+10.145%	—	$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	0.0004658	+10.412%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0691%	1h	0.0004656	+10.359%	$91K	$108K	10x	as long as short