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: OKX against MEXC−0.025%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$910.913% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.025%, 7d avg +0.061%

Together, before fees+0.124%+$12 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: OKX is 0.086% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UMA_USDT	0.3995	0.0100	pay 0.0050% / 4h	11m 05s	$213K	$196K	50x
Short	OKX UMA-USDT-SWAP	0.3994	0.0100	get 0.0050% / 4h	11m 05s	$312K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.061%: −$8.65
Slippage, 4 orders: −$77.29
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$99.94
Costs to cover: 0.913%
Break-even: never at this rate

Slippage from MEXC: live order book, 11 min ago; OKX: live order book, 27 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, 11 min ago	2.50 bp	13.1 bp −$13	64.0 bp −$640	122.9 bp −$12.3K	324.3 bp −$162.2K
Sell OKX live order book, 27 min ago	3.74 bp	37.3 bp −$37	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	0.3998	+0.085%	$214K	$71K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4000	+0.136%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.3996	+0.025%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4000	+0.125%	$680K	$149K	25x	as long as short
OKX UMA-USDT-SWAPshort	+0.0100%	4h	0.3994	−0.025%	$312K	$240K	10x
Gate UMA_USDT	+0.0100%	4h	0.4006	+0.275%	$72K	$43K	25x	as long as short
MEXC UMA_USDTlong	+0.0100%	4h	0.3995	long leg	$213K	$196K	50x
KuCoin UMAUSDTM	+0.0100%	4h	0.4001	+0.150%	$153K	$60K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.3999	+0.100%	$977K	$81K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4003	+0.200%	—	$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	0.4006	+0.272%	$4K	$1	—	as long as short
BloFin UMA-USDT	+0.0101%	4h	0.3998	+0.075%	$73K	$5K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.3163%	1h	0.4006	+0.277%	$14K	$6K	10x	as long as short