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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC0.000%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$830.832% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now 0.000%, 7d avg +0.068%

Together, before fees−0.134%−$13 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: Bitget is 0.068% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WAL_USDT	0.03416	0.0100	pay 0.0050% / 4h	2h 55m	$581K	$279K	20x
Short	Bitget WALUSDT	0.03416	0.0100	get 0.0050% / 4h	2h 55m	$581K	$880K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.068%: −$6.79
Slippage, 4 orders: −$67.21
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$90
Costs to cover: 0.832%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bitget: live order book, 10 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, 5 min ago	4.34 bp	11.5 bp −$11	64.5 bp −$645	283.0 bp −$28.3K	doesn't fit
Sell Bitget live order book, 10 min ago	4.30 bp	29.2 bp −$29	162.4 bp −$1,624	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
Binance WALUSDT	+0.0100%	4h	0.03417	+0.029%	$2.3M	$6.4M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03416	0.000%	$1.3M	$1.6M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03415	−0.029%	$218K	$896K	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03415	−0.029%	$289K	$447K	50x	as long as short
MEXC WAL_USDTlong	+0.0100%	4h	0.03416	long leg	$581K	$279K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03418	+0.059%	$340K	$70K	30x	as long as short
Bitget WALUSDTshort	+0.0100%	4h	0.03416	0.000%	$581K	$880K	20x
BingX WAL-USDT	+0.0100%	4h	0.03414	−0.059%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03412	−0.118%	$21K	$8K	—	as long as short
Bluefin WAL-PERP	+0.0283%	1h	0.03416	0.000%	$32K	$764K	20x	as long as short