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: KuCoin against MEXC+0.050%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,240as in the Price arb table

costs, in and out, $10k−$1,23512.351% of the position

Long on MEXC Short on KuCoin

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)+0.060%+$6 · spread now +0.050%, 7d avg +0.097%

Together, before fees+0.085%+$8 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: KuCoin 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 +0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UMA_USDT	0.4000	0.0100	pay 0.0050% / 4h	9m 22s	$213K	$200K	50x
Short	KuCoin UMAUSDTM	0.4002	0.0100	get 0.0050% / 4h	9m 22s	$155K	$60K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.097%: −$4.66
Slippage, 4 orders: −$1,219.07
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,239.73
Costs to cover: 12.351%
Break-even: never at this rate

Slippage from MEXC: live order book, 13 min ago; KuCoin: live order book, 7 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, 13 min ago	2.50 bp	13.1 bp −$13	64.0 bp −$640	122.9 bp −$12.3K	324.3 bp −$162.2K
Sell KuCoin live order book, 7 min ago	13.73 bp	602.9 bp −$603	doesn't fit	doesn't fit	doesn't fit

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	0.4003	+0.067%	$215K	$71K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.3999	−0.017%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4000	0.000%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4003	+0.075%	$680K	$148K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4000	0.000%	$312K	$238K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4005	+0.125%	$72K	$43K	25x	as long as short
MEXC UMA_USDTlong	+0.0100%	4h	0.4000	long leg	$213K	$200K	50x
KuCoin UMAUSDTMshort	+0.0100%	4h	0.4002	+0.050%	$155K	$60K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4004	+0.100%	$978K	$81K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4004	+0.100%	—	$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	0.4000	+0.010%	$4K	$1	—	as long as short
BloFin UMA-USDT	+0.0101%	4h	0.3998	−0.050%	$73K	$5K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.3134%	1h	0.4043	+1.071%	$14K	$6K	10x	as long as short