Funding arb · Price arb /

UMA

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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 0.000%

Price spread now: BingX against MEXC+0.025%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$880.880% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now +0.025%, 7d avg +0.072%

Together, before fees+0.111%+$11 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: BingX is 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UMA_USDT	0.4052	0.0100	pay 0.0050% / 4h	27m 51s	$222K	$164K	50x
Short	BingX UMA-USDT	0.4053	0.0100	get 0.0050% / 4h	27m 51s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → +0.072%: −$4.71
Slippage, 4 orders: −$73.99
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$92.69
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from MEXC: live order book, 12 min ago; BingX: 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 MEXC live order book, 12 min ago	4.96 bp	15.6 bp −$16	64.4 bp −$644	132.9 bp −$13.3K	378.3 bp −$189.1K
Sell BingX live order book, 5 min ago	7.42 bp	28.1 bp −$28	71.4 bp −$714	731.1 bp −$73.1K	doesn't fit

UMA on 13 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
BloFin UMA-USDT	+0.0094%	4h	0.4054	+0.049%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4054	+0.052%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	+0.012%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	+0.012%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4055	+0.074%	$672K	$153K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4051	−0.025%	$315K	$243K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4048	−0.099%	$78K	$45K	25x	as long as short
MEXC UMA_USDTlong	+0.0100%	4h	0.4052	long leg	$222K	$164K	50x
KuCoin UMAUSDTM	+0.0100%	4h	0.4053	+0.025%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4051	−0.025%	$975K	$67K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDTshort	+0.0100%	4h	0.4053	+0.025%	—	$2.3M	—
Variational Omni UMA	+0.0100%	4h	0.4051	−0.017%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2337%	1h	0.4072	+0.486%	$14K	$6K	10x	as long as short