Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: MEXC against gTrade (Gains Network)−0.029%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. MEXC is 0.029% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.04102	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	36m 53s	$2K	—	150x
Short	MEXC S_USDT	0.04101	0.0100	get 0.0050% / 4h	1h 36m	$4.0M	$1.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now −0.029%Rate

Funding earned: $20.88
Price spread: −0.029% → 0.000%: −$2.9
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $3.98
Costs to cover: 0.140%
Break-even: 5.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 10 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell MEXC live order book, 10 min ago	1.22 bp	4.3 bp −$4	79.6 bp −$796	270.6 bp −$27.1K	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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
01 Exchange SUSD	−1.0992%	1h	0.03950	−3.710%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1678%	1h	0.04095	−0.171%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.955%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0307%	4h	0.04079	−0.573%	$635K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04102	−0.014%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04100	−0.064%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.04102	long leg	$2K	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.053%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.04102	−0.005%	$102K	$332K	10x	as long as short
Lighter S	+0.0096%	1h	0.04105	+0.068%	$171K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04101	−0.022%	$1.0M	$553K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04103	+0.017%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04101	−0.027%	$5.7M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04095	−0.175%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04096	−0.151%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04096	−0.151%	$336K	$200K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.04101	−0.029%	$4.0M	$1.8M	200x
KuCoin SUSDTM	+0.0100%	4h	0.04098	−0.102%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04103	+0.020%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04098	−0.102%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04100	−0.053%	$25K	$447K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04101	−0.038%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04096	−0.151%	$280K	$110K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0725%	1h	0.04106	+0.093%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1569%	1h	0.04110	+0.190%	$121K	$363K	5x	as long as short