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

Net, funding: paid 7d − costs−$3,197as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,179as in the Price arb table

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

Long on MEXC Short on Kraken Futures

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−0.048%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.191% cheaper against MEXC than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of +0.114%). If the spread goes back, that is −$19 on $10k: about 20 hours of funding at the current rate (+$23 a day). Mind the row above: over the last 7 days funding on this pair cost −0.373%, 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 -0.373% 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	MEXC MEW_USDT	0.0004815	0.0100	pay 0.0050% / 4h	3h 48m	$394K	$176K	125x
Short	Kraken Futures PF_MEWUSD	0.0004811	0.0881	get 0.0110% / 1h	48m 32s	$90K	$117K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.077%Rate

Funding earned: $164.11
Price spread: −0.077% → +0.114%: −$19.08
Slippage, 4 orders: −$3,145.9
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3,014.87
Costs to cover: 31.599%
Break-even: 135.6 days

Slippage from MEXC: live order book, 52 min ago; Kraken Futures: live order book, 4 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 MEXC live order book, 52 min ago	1.08 bp	12.7 bp −$13	62.4 bp −$624	162.8 bp −$16.3K	doesn't fit
Sell Kraken Futures live order book, 4 min ago	11.43 bp	86.3 bp −$86	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	0.0004790	−0.519%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−12.378%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004816	+0.021%	$1.3M	$3.1M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004812	−0.062%	$1.5M	$1.4M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004815	0.000%	$554K	$848K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004808	−0.145%	$143K	$132K	50x	as long as short
MEXC MEW_USDTlong	+0.0100%	4h	0.0004815	long leg	$394K	$176K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004807	−0.166%	$341K	$124K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004817	+0.042%	$527K	$452K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004810	−0.104%	—	$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	−0.495%	$84K	$32K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0881%	1h	0.0004811	−0.077%	$90K	$117K	10x