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: Bybit against OKX−0.042%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1091.094% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.042%, 7d avg −0.012%

Together, before fees+0.081%+$8 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: Bybit is 0.031% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MEW-USDT-SWAP	0.0004715	0.0100	pay 0.0050% / 4h	3h 11m	$531K	$716K	20x
Short	Bybit MEWUSDT	0.0004713	0.0100	get 0.0050% / 4h	3h 11m	$1.5M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.012%: −$3.07
Slippage, 4 orders: −$88.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$112.47
Costs to cover: 1.094%
Break-even: never at this rate

Slippage from OKX: live order book, 60 min ago; Bybit: live order book, 5 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, 60 min ago	3.21 bp	31.7 bp −$32	10150.0 bp −$101.5K	179965.9 bp −$18.00M	doesn't fit
Sell Bybit live order book, 5 min ago	4.24 bp	18.6 bp −$19	78.8 bp −$788	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	0.0004710	−0.106%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.520%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004717	+0.047%	$1.2M	$2.8M	50x	as long as short
Bybit MEWUSDTshort	+0.0100%	4h	0.0004713	−0.042%	$1.5M	$1.1M	25x
OKX MEW-USDT-SWAPlong	+0.0100%	4h	0.0004715	long leg	$531K	$716K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004715	0.000%	$131K	$87K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004718	+0.064%	$392K	$175K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004714	−0.021%	$343K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004716	+0.021%	$496K	$367K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004717	+0.042%	—	$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	0.0004713	−0.038%	$83K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0682%	1h	0.0004720	+0.107%	$92K	$106K	10x	as long as short