Funding arb · Price arb /

MTL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Gate against MEXC+0.032%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$439as in the Funding arb table

Net, price: spread back to 7d avg − costs−$608as in the Price arb table

costs, in and out, $10k−$6116.105% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.716%+$172 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.032%, 7d avg +0.003%

Together, before fees+1.658%+$166 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: Gate is 0.029% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MTL_USDT	0.3138	0.0100	pay 0.0050% / 4h	30m 04s	$279K	$133K	50x
Short	Gate MTL_USDT	0.3139	0.0100	get 0.0050% / 4h	30m 04s	$167K	$36K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.003%: $2.86
Slippage, 4 orders: −$591.52
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$607.65
Costs to cover: 6.105%
Break-even: never at this rate

Slippage from MEXC: live order book, 30 min ago; Gate: live order book, 41 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, 30 min ago	1.60 bp	19.3 bp −$19	120.9 bp −$1,209	180.0 bp −$18.0K	doesn't fit
Sell Gate live order book, 41 min ago	4.82 bp	284.2 bp −$284	doesn't fit	doesn't fit	doesn't fit

MTL on 9 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
BingX MTL-USDT	+0.0036%	4h	0.3139	+0.032%	—	$1.3M	—	as long as short
BloFin MTL-USDT	+0.0050%	4h	0.3143	+0.159%	$119K	$5K	50x	as long as short
Aster MTLUSDT	+0.0100%	1h	0.3141	+0.096%	$2K	$8K	5x	as long as short
Binance MTLUSDT	+0.0100%	4h	0.3140	+0.064%	$1.8M	$3.5M	50x	as long as short
Gate MTL_USDTshort	+0.0100%	4h	0.3139	+0.032%	$167K	$36K	25x
MEXC MTL_USDTlong	+0.0100%	4h	0.3138	long leg	$279K	$133K	50x
KuCoin MTLUSDTM	+0.0100%	4h	0.3139	+0.032%	$666K	$24K	30x	as long as short
Bitget MTLUSDT	+0.0100%	4h	0.3136	−0.064%	$346K	$94K	25x	as long as short
Bybit MTLUSDT	+0.0955%	8h	0.3132	−0.191%	$1.0M	$714K	25x	as long as short