Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against OKX+0.127%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.127%, 7d avg +0.030%

Together, before fees−0.021%−$2 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: BingX is 0.097% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MEW-USDT-SWAP	0.0004731	0.0100	pay 0.0050% / 4h	3h 56m	$552K	$944K	20x
Short	BingX MEW-USDT	0.0004737	0.0100	get 0.0050% / 4h	3h 56m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.127%Rate

Funding earned: $0
Price spread: +0.127% → +0.030%: $9.71
Slippage, 4 orders: −$98.41
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$108.7
Costs to cover: 1.184%
Break-even: never at this rate

Slippage from OKX: live order book, 39 min ago; BingX: live order book, 11 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 OKX live order book, 39 min ago	3.16 bp	35.8 bp −$36	11780.1 bp −$117.8K	194722.0 bp −$19.47M	doesn't fit
Sell BingX live order book, 11 min ago	6.34 bp	25.1 bp −$25	69.6 bp −$696	638.5 bp −$63.8K	964.9 bp −$482.4K

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	0.0004740	+0.190%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.822%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004739	+0.171%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004739	+0.169%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAPlong	+0.0100%	4h	0.0004731	long leg	$552K	$944K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004732	+0.021%	$137K	$147K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004744	+0.275%	$379K	$180K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004737	+0.127%	$334K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004741	+0.211%	$491K	$553K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004737	+0.127%	—	$6.7M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004739	+0.166%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.1423%	1h	0.0004751	+0.417%	$97K	$141K	10x	as long as short