Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Gate−0.058%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1361.359% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.058%, 7d avg +0.054%

Together, before fees+0.151%+$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: MEXC is 0.112% cheaper against Gate than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WAL_USDT	0.03449	0.0100	pay 0.0050% / 4h	2h 42m	$293K	$577K	50x
Short	MEXC WAL_USDT	0.03447	0.0100	get 0.0050% / 4h	2h 42m	$568K	$284K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.054%: −$11.19
Slippage, 4 orders: −$116.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$147.1
Costs to cover: 1.359%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; MEXC: live order book, 62 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 Gate live order book, 3 min ago	4.33 bp	57.7 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 62 min ago	2.85 bp	9.3 bp −$9	41.3 bp −$413	doesn't fit	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
Bybit WALUSDT	−0.0121%	4h	0.03451	+0.058%	$1.5M	$1.7M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0081%	4h	0.03447	−0.058%	$220K	$1.0M	10x	as long as short
Binance WALUSDT	+0.0100%	4h	0.03449	0.000%	$2.4M	$6.7M	75x	as long as short
Gate WAL_USDTlong	+0.0100%	4h	0.03449	long leg	$293K	$577K	50x
MEXC WAL_USDTshort	+0.0100%	4h	0.03447	−0.058%	$568K	$284K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03440	−0.261%	$326K	$56K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03448	−0.029%	$596K	$932K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03451	+0.058%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03469	+0.577%	$21K	$13K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03453	+0.116%	$30K	$637K	20x	as long as short