Funding arb · Price arb /

S

all S 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 −0.004%

Price spread now: MEXC against Gate+0.100%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1431.429% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now +0.100%, 7d avg +0.054%

Together, before fees−0.105%−$10 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: MEXC is 0.046% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03984	0.0100	pay 0.0050% / 4h	3h 42m	$326K	$216K	50x
Short	MEXC S_USDT	0.03988	0.0100	get 0.0050% / 4h	3h 42m	$3.7M	$1.9M	200x

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

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 GatebpFee MEXCbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.054%: $4.6
Slippage, 4 orders: −$123.94
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$138.35
Costs to cover: 1.429%
Break-even: never at this rate

Slippage from Gate: live order book, 28 min ago; MEXC: 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 Gate live order book, 28 min ago	8.92 bp	74.4 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.26 bp	4.2 bp −$4	50.3 bp −$503	264.4 bp −$26.4K	doesn't fit

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	−0.5360%	1h	0.03980	−0.100%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2027%	1h	0.03985	+0.034%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.966%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0943%	4h	0.03974	−0.241%	$617K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03990	+0.153%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03987	+0.085%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03989	+0.133%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03988	+0.100%	$102K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.912%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03989	+0.126%	$162K	$190K	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	0.03988	+0.103%	$998K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03990	+0.143%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03988	+0.100%	$5.5M	$16.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03983	−0.025%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03987	+0.075%	$984K	$4.7M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03984	long leg	$326K	$216K	50x
MEXC S_USDTshort	+0.0100%	4h	0.03988	+0.100%	$3.7M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03990	+0.151%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03991	+0.176%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03986	+0.050%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.151%	$116K	$317K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.351%	$26K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03987	+0.086%	$227K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03971	−0.326%	$267K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0752%	1h	0.03995	+0.276%	$67K	$10K	10x	as long as short