Funding arb · Price arb /

W

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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−0.120%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$252as in the Funding arb table

Net, price: spread back to 7d avg − costs−$267as in the Price arb table

costs, in and out, $10k−$2562.561% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.120%, 7d avg −0.007%

Together, before fees+0.063%+$6 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 0.113% cheaper against MEXC than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01171	0.0100	pay 0.0050% / 4h	50m 21s	$12.2M	$1.2M	50x
Short	KuCoin WUSDTM	0.01170	0.0100	get 0.0050% / 4h	50m 21s	$379K	$176K	50x

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 −0.120%Rate

Funding earned: $0
Price spread: −0.120% → −0.007%: −$11.27
Slippage, 4 orders: −$240.07
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$267.34
Costs to cover: 2.561%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; KuCoin: 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, 1 min ago	1.71 bp	9.9 bp −$10	56.1 bp −$561	92.8 bp −$9,277	180.6 bp −$90.3K
Sell KuCoin live order book, 44 min ago	17.09 bp	115.7 bp −$116	329.5 bp −$3,295	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0603%	1h	0.01171	−0.034%	$14K	$4K	10x	as long as short
OKX W-USDT-SWAP	−0.0012%	4h	0.01170	−0.111%	$1.3M	$1.2M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.210%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01173	+0.137%	$2.0M	$249K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01172	+0.026%	$3.0M	$4.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01169	−0.205%	$4.1M	$1.4M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01169	−0.239%	$432K	$162K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01171	long leg	$12.2M	$1.2M	50x
KuCoin WUSDTMshort	+0.0100%	4h	0.01170	−0.120%	$379K	$176K	50x
Bitget WUSDT	+0.0100%	4h	0.01170	−0.120%	$1.3M	$542K	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01171	−0.034%	—	$6.6M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01172	+0.094%	$45K	$48K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01169	−0.240%	$67K	$20K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01176	+0.381%	$126K	$365K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01170	−0.128%	$61K	$399K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0576%	1h	0.01179	+0.691%	$13K	$10K	50x	as long as short
Kraken Futures PF_WUSD	+0.0832%	1h	0.01173	+0.111%	$152K	$54K	20x	as long as short