Funding arb · Price arb /

MMT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0534%/8h= −58.5% APRpaid last 24h −0.105%

Price spread now: MEXC against Gate0.000%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1321.316% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now 0.000%, 7d avg −0.067%

Together, before fees−0.291%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.067% dearer against Gate than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.067%): +$7 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.204% in total) that is about 2.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.204% in total (about -10.6% 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	Gate MMT_USDT	0.1667	0.0634	pay 0.0634% / 8h	6h 26m	$560K	$240K	50x
Short	MEXC MMT_USDT	0.1667	0.0100	get 0.0050% / 4h	2h 26m	$487K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$112.14
Price spread: 0.000% → −0.067%: $6.74
Slippage, 4 orders: −$108.61
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$237.01
Costs to cover: 1.316%
Break-even: never at this rate

Slippage from Gate: live order book, 39 min ago; MEXC: live order book, 33 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 Gate live order book, 39 min ago	2.99 bp	55.0 bp −$55	1431.1 bp −$14.3K	doesn't fit	doesn't fit
Sell MEXC live order book, 33 min ago	3.01 bp	13.8 bp −$14	52.7 bp −$527	218.4 bp −$21.8K	doesn't fit

MMT on 10 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
Aster MMTUSDT	+0.0100%	4h	0.1665	−0.118%	$4K	$28K	5x	as long as short
Binance MMTUSDT	+0.0100%	4h	0.1667	−0.028%	$5.4M	$4.1M	50x	as long as short
Bybit MMTUSDT	+0.0100%	4h	0.1667	0.000%	$1.5M	$767K	25x	as long as short
OKX MMT-USDT-SWAP	+0.0100%	4h	0.1665	−0.120%	$1.7M	$2.5M	20x	as long as short
MEXC MMT_USDTshort	+0.0100%	4h	0.1667	0.000%	$487K	$154K	20x
KuCoin MMTUSDTM	+0.0100%	4h	0.1664	−0.162%	$597K	$93K	50x	as long as short
Bitget MMTUSDT	+0.0100%	4h	0.1667	0.000%	$1.4M	$466K	50x	as long as short
BingX MMT-USDT	+0.0100%	4h	0.1666	−0.060%	—	$6.5M	—	as long as short
Variational Omni MMT	+0.0100%	4h	0.1661	−0.375%	$2K	$4K	—	as long as short
Gate MMT_USDTlong	+0.0634%	8h	0.1667	long leg	$560K	$240K	50x