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: Bitget against MEXC+0.074%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$930.932% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now +0.074%, 7d avg +0.117%

Together, before fees+0.161%+$16 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: Bitget is 0.043% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UMA_USDT	0.4049	0.0100	pay 0.0050% / 4h	1h 16m	$225K	$163K	50x
Short	Bitget UMAUSDT	0.4052	0.0100	get 0.0050% / 4h	1h 16m	$976K	$67K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.117%: −$4.33
Slippage, 4 orders: −$77.22
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$97.56
Costs to cover: 0.932%
Break-even: never at this rate

Slippage from MEXC: live order book, 27 min ago; Bitget: live order book, 44 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, 27 min ago	1.24 bp	11.7 bp −$12	69.4 bp −$694	118.8 bp −$11.9K	335.3 bp −$167.7K
Sell Bitget live order book, 44 min ago	8.69 bp	29.7 bp −$30	133.1 bp −$1,331	doesn't fit	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	+0.0057%	4h	0.4054	+0.123%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4051	+0.042%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	+0.065%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4049	−0.012%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4054	+0.123%	$672K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4048	−0.025%	$315K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4044	−0.123%	$78K	$45K	25x	as long as short
MEXC UMA_USDTlong	+0.0100%	4h	0.4049	long leg	$225K	$163K	50x
KuCoin UMAUSDTM	+0.0100%	4h	0.4048	−0.025%	$156K	$63K	30x	as long as short
Bitget UMAUSDTshort	+0.0100%	4h	0.4052	+0.074%	$976K	$67K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4050	+0.025%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4060	+0.278%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2646%	1h	0.4060	+0.278%	$14K	$6K	10x	as long as short