Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0300%/8h= +32.8% APRpaid last 24h +0.038%

Price spread now: Coinbase International against MEXC+0.952%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.952% dearer against MEXC than usual: you sell high and buy low: +$95 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01166	0.0100	pay 0.0050% / 4h	2h 22m	$12.2M	$1.4M	50x
Short	Coinbase International W-PERP-INTX	0.01178	0.0400	get 0.0050% / 1h	22m 34s	$14K	$13K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.952%Rate

Funding earned: $63
Price spread: +0.952% → 0.000%: $95.16
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $144.16
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 6 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 6 min ago	2.15 bp	9.2 bp −$9	58.6 bp −$586	82.7 bp −$8,273	140.5 bp −$70.2K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0007%	1h	0.01166	−0.060%	$14K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.652%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01167	+0.051%	$2.0M	$281K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01167	+0.062%	$2.9M	$5.2M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01165	−0.111%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01167	+0.009%	$1.3M	$1.6M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01167	+0.043%	$425K	$242K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01166	long leg	$12.2M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01165	−0.120%	$388K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01167	+0.051%	$1.3M	$549K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01166	−0.034%	—	$6.7M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01168	+0.103%	$43K	$42K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01160	−0.531%	$71K	$40K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01164	−0.208%	$123K	$362K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01166	−0.035%	$60K	$144K	5x	as long as short
Coinbase International W-PERP-INTXshort	+0.0400%	1h	0.01178	+0.952%	$14K	$13K	50x
Kraken Futures PF_WUSD	+0.1750%	1h	0.01168	+0.135%	$144K	$184K	20x	as long as short