Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0781%/8h= −85.6% APRpaid last 24h −0.035%

Price spread now: MEXC against Kraken Futures+0.077%7-day average −0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,141as in the Price arb table

costs, in and out, $10k−$3,16031.599% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 4 days (all we have)−0.326%−$33 · spread now +0.077%, 7d avg −0.114%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.191% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.114%): +$19 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.373% in total (about 19.5% 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	Kraken Futures PF_MEWUSD	0.0004811	0.0881	pay 0.0110% / 1h	48m 32s	$90K	$117K	10x
Short	MEXC MEW_USDT	0.0004815	0.0100	get 0.0050% / 4h	3h 48m	$394K	$176K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$164.11
Price spread: +0.077% → −0.114%: $19.08
Slippage, 4 orders: −$3,145.9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3,304.92
Costs to cover: 31.599%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; MEXC: live order book, 52 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 Kraken Futures live order book, 4 min ago	11.43 bp	3049.2 bp −$3,049	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 52 min ago	1.08 bp	11.7 bp −$12	47.1 bp −$471	170.5 bp −$17.1K	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	0.0004790	−0.443%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−12.311%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004816	+0.098%	$1.3M	$3.1M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004812	+0.015%	$1.5M	$1.4M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004815	+0.077%	$554K	$848K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004808	−0.069%	$143K	$132K	50x	as long as short
MEXC MEW_USDTshort	+0.0100%	4h	0.0004815	+0.077%	$394K	$176K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004807	−0.089%	$341K	$124K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004817	+0.119%	$527K	$452K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004810	−0.027%	—	$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	0.0004791	−0.419%	$84K	$32K	—	as long as short
Kraken Futures PF_MEWUSDlong	+0.0881%	1h	0.0004811	long leg	$90K	$117K	10x