Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against MEXC+0.170%7-day average −0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$547as in the Funding arb table

Net, price: spread back to 7d avg − costs−$523as in the Price arb table

costs, in and out, $10k−$5495.488% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.170%, 7d avg −0.084%

Together, before fees−0.147%−$15 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: Gate is 0.254% dearer against MEXC than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01176	0.0100	pay 0.0050% / 4h	2h 55m	$12.8M	$1.7M	50x
Short	Gate W_USDT	0.01178	0.0100	get 0.0050% / 4h	2h 55m	$446K	$300K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.170%Rate

Funding earned: $0
Price spread: +0.170% → −0.084%: $25.41
Slippage, 4 orders: −$529.79
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$523.38
Costs to cover: 5.488%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Gate: live order book, 30 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, 3 min ago	0.43 bp	10.2 bp −$10	54.0 bp −$540	86.0 bp −$8,596	169.3 bp −$84.6K
Sell Gate live order book, 30 min ago	8.09 bp	323.2 bp −$323	doesn't fit	doesn't fit	doesn't fit

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	0.0000%	1h	0.01177	+0.051%	$17K	$790	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.789%	$1K	$1K	12x	as long as short
OKX W-USDT-SWAP	+0.0035%	4h	0.01174	−0.162%	$1.3M	$2.2M	20x	as long as short
Hyperliquid W	+0.0100%	1h	0.01175	−0.102%	$2.0M	$473K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01177	+0.030%	$3.0M	$7.7M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01174	−0.153%	$4.1M	$2.1M	50x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01178	+0.170%	$446K	$300K	75x
MEXC W_USDTlong	+0.0100%	4h	0.01176	long leg	$12.8M	$1.7M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01174	−0.187%	$422K	$231K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01176	−0.017%	$1.3M	$555K	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	0.01175	−0.102%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01178	+0.119%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01168	−0.723%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01170	−0.554%	$132K	$412K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01176	−0.055%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01179	+0.204%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0618%	1h	0.01178	+0.146%	$146K	$186K	20x	as long as short