Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.039%

Price spread now: MEXC against Bluefin−0.225%7-day average −0.183% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$330as in the Price arb table

costs, in and out, $10k−$3253.255% of the position

Long on Bluefin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+1.460%+$146 on $10k

Price spread, last 4 days (all we have)−0.627%−$63 · spread now −0.225%, 7d avg −0.183%

Together, before fees+0.833%+$83 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: MEXC is 0.042% cheaper against Bluefin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.183%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin WAL-PERP	0.03555	0.0100	pay 0.0013% / 1h	25m 18s	$32K	$643K	20x
Short	MEXC WAL_USDT	0.03547	0.0100	get 0.0050% / 4h	25m 18s	$623K	$296K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bluefin. 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 BluefinbpFee MEXCbpOrdersPrice spread, now −0.225%Rate

Funding earned: $0
Price spread: −0.225% → −0.183%: −$4.24
Slippage, 4 orders: −$314.49
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$329.73
Costs to cover: 3.255%
Break-even: never at this rate

Slippage from Bluefin: live order book, 34 min ago; MEXC: live order book, 25 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 Bluefin live order book, 34 min ago	2.85 bp	164.5 bp −$164	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 25 min ago	2.86 bp	9.4 bp −$9	40.1 bp −$401	274.8 bp −$27.5K	doesn't fit

WAL on 10 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
Binance WALUSDT	+0.0100%	4h	0.03548	−0.197%	$2.4M	$7.0M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03552	−0.084%	$1.4M	$1.8M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03550	−0.141%	$221K	$1.1M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03550	−0.141%	$296K	$555K	50x	as long as short
MEXC WAL_USDTshort	+0.0100%	4h	0.03547	−0.225%	$623K	$296K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03557	+0.056%	$350K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03554	−0.028%	$612K	$938K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03550	−0.141%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03549	−0.173%	$23K	$9K	—	as long as short
Bluefin WAL-PERPlong	+0.0100%	1h	0.03555	long leg	$32K	$643K	20x