Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Bluefin against MEXC+0.284%55s7-day average +0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$478as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3303.298% of the position

Long on MEXC Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.484%−$148 on $10k

Price spread, last 4 days (all we have)+0.317%+$32 · spread now +0.284%, 7d avg +0.182%

Together, before fees−1.167%−$117 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: Bluefin is 0.102% dearer against MEXC than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.182%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WAL_USDT	0.03523	0.0100	pay 0.0050% / 4h	3h 30m	$607K	$306K	20x
Short	Bluefin WAL-PERP	0.03533	0.0100	get 0.0013% / 1h	30m 26s	$31K	$650K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now +0.284%Rate

Funding earned: $0
Price spread: +0.284% → +0.182%: $10.17
Slippage, 4 orders: −$318.85
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$319.68
Costs to cover: 3.298%
Break-even: never at this rate

Slippage from MEXC: live order book, 15 min ago; Bluefin: live order book, 24 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, 15 min ago	2.85 bp	9.1 bp −$9	37.5 bp −$375	1270.3 bp −$127.0K	doesn't fit
Sell Bluefin live order book, 24 min ago	2.85 bp	145.5 bp −$146	doesn't fit	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
OKX WAL-USDT-SWAP	+0.0080%	4h	0.03524	+0.028%	$226K	$1.1M	10x	as long as short
Binance WALUSDT	+0.0100%	4h	0.03523	0.000%	$2.4M	$7.2M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03530	+0.199%	$1.5M	$1.9M	25x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03528	+0.142%	$304K	$577K	50x	as long as short
MEXC WAL_USDTlong	+0.0100%	4h	0.03523	long leg	$607K	$306K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03519	−0.114%	$334K	$62K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03526	+0.085%	$602K	$969K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03525	+0.057%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03532	+0.266%	$22K	$11K	—	as long as short
Bluefin WAL-PERPshort	+0.0100%	1h	0.03533	+0.284%	$31K	$650K	20x