Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0690%/8h= +75.6% APRpaid last 24h +0.053%

Price spread now: Kraken Futures against KuCoin−0.054%7-day average +0.169% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,515as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,509as in the Price arb table

costs, in and out, $10k−$1,48614.864% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 4 days (all we have)+0.244%+$24 · spread now −0.054%, 7d avg +0.169%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.223% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.054% now, against its 7-day average of +0.169%). If the spread goes back, that is −$22 on $10k: about 26 hours of funding at the current rate (+$21 a day). Mind the row above: over the last 7 days funding on this pair cost −0.288%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.288% in total (about -15.0% 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	KuCoin MEWUSDTM	0.0004747	0.0100	pay 0.0050% / 4h	1h 12m	$330K	$117K	30x
Short	Kraken Futures PF_MEWUSD	0.0004744	0.0790	get 0.0099% / 1h	12m 46s	$92K	$133K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.054%Rate

Funding earned: $144.99
Price spread: −0.054% → +0.169%: −$22.3
Slippage, 4 orders: −$1,464.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,363.75
Costs to cover: 14.864%
Break-even: 72.8 days

Slippage from KuCoin: live order book, 30 min ago; Kraken Futures: live order book, 29 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, 30 min ago	14.84 bp	174.3 bp −$174	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 29 min ago	11.64 bp	57.2 bp −$57	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	0.0004730	−0.358%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.123%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004745	−0.042%	$1.3M	$3.6M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004737	−0.211%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004737	−0.211%	$545K	$911K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004738	−0.190%	$138K	$143K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004743	−0.084%	$375K	$188K	125x	as long as short
KuCoin MEWUSDTMlong	+0.0100%	4h	0.0004747	long leg	$330K	$117K	30x
Bitget MEWUSDT	+0.0100%	4h	0.0004749	+0.042%	$484K	$537K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004737	−0.211%	—	$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	0.0004747	−0.007%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0790%	1h	0.0004744	−0.054%	$92K	$133K	10x