Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin0.000%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,546as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,534as in the Price arb table

costs, in and out, $10k−$1,54415.439% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now 0.000%, 7d avg −0.096%

Together, before fees−0.089%−$9 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 0.096% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UMAUSDTM	0.4021	0.0100	pay 0.0050% / 4h	2h 18m	$152K	$60K	30x
Short	MEXC UMA_USDT	0.4021	0.0100	get 0.0050% / 4h	2h 18m	$254K	$174K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.096%: $9.57
Slippage, 4 orders: −$1,527.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1,534.32
Costs to cover: 15.439%
Break-even: never at this rate

Slippage from KuCoin: live order book, 23 min ago; MEXC: live order book, 25 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 KuCoin live order book, 23 min ago	9.89 bp	939.3 bp −$939	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 25 min ago	2.48 bp	17.2 bp −$17	74.8 bp −$748	127.5 bp −$12.8K	372.5 bp −$186.2K

UMA on 13 exchanges

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
Hyperliquid UMA	+0.0100%	1h	0.4024	+0.080%	$217K	$73K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4023	+0.043%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4020	−0.025%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4024	+0.075%	$687K	$151K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4021	0.000%	$313K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4020	−0.025%	$72K	$40K	25x	as long as short
MEXC UMA_USDTshort	+0.0100%	4h	0.4021	0.000%	$254K	$174K	50x
KuCoin UMAUSDTMlong	+0.0100%	4h	0.4021	long leg	$152K	$60K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4029	+0.199%	$973K	$59K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4021	0.000%	—	$2.3M	—	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4025	+0.104%	$5K	$1	—	as long as short
BloFin UMA-USDT	+0.0122%	4h	0.4018	−0.075%	$72K	$5K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.1930%	1h	0.4035	+0.346%	$14K	$6K	10x	as long as short