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: Bitget against KuCoin−0.086%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$539as in the Funding arb table

Net, price: spread back to 7d avg − costs−$559as in the Price arb table

costs, in and out, $10k−$5445.444% of the position

Long on KuCoin Short on Bitget

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)+0.183%+$18 · spread now −0.086%, 7d avg +0.064%

Together, before fees+0.238%+$24 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: Bitget is 0.150% cheaper against KuCoin than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MEWUSDTM	0.0004629	0.0100	pay 0.0050% / 4h	1h 36m	$344K	$118K	30x
Short	Bitget MEWUSDT	0.0004625	0.0100	get 0.0050% / 4h	1h 36m	$494K	$374K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → +0.064%: −$15.02
Slippage, 4 orders: −$520.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$559.46
Costs to cover: 5.444%
Break-even: never at this rate

Slippage from KuCoin: live order book, 61 min ago; Bitget: live order book, 20 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 KuCoin live order book, 61 min ago	4.32 bp	255.0 bp −$255	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 20 min ago	9.67 bp	27.2 bp −$27	95.3 bp −$953	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	0.0004630	+0.022%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−8.857%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004637	+0.173%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004628	−0.022%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004631	+0.043%	$524K	$757K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004619	−0.216%	$135K	$120K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004636	+0.151%	$385K	$174K	125x	as long as short
KuCoin MEWUSDTMlong	+0.0100%	4h	0.0004629	long leg	$344K	$118K	30x
Bitget MEWUSDTshort	+0.0100%	4h	0.0004625	−0.086%	$494K	$374K	50x
BingX MEW-USDT	+0.0100%	4h	0.0004626	−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	0.0004632	+0.067%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.1048%	1h	0.0004642	+0.277%	$91K	$108K	10x	as long as short