Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.045%

Price spread now: HTX against MEXC+0.015%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1221.221% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now +0.015%, 7d avg −0.039%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.054% dearer against MEXC than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.039%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.003% in total) that is about 4 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GBP_USDT	1.3365	0.0188	pay 0.0094% / 4h	8m 32s	$26.0M	$270K	100x
Short	HTX GBPUSD-USDT	1.3367	0	get 0.0000% / 1h	8m 32s	$5K	$336K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$39.48
Price spread: +0.015% → −0.039%: $5.35
Slippage, 4 orders: −$102.05
Fee MEXC: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$156.18
Costs to cover: 1.221%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; HTX: live order book, 29 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	1.12 bp	5.1 bp −$5	5.5 bp −$55	6.3 bp −$630	45.1 bp −$22.6K
Sell HTX live order book, 29 min ago	39.61 bp	61.6 bp −$62	doesn't fit	doesn't fit	doesn't fit

GBP on 13 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
Hibachi GBP/USDT-P	−0.0072%	1h	1.3363	−0.017%	$22K	$45K	20x	as long as short
Nado GBPUSD-PERP	−0.0014%	1h	1.3365	+0.001%	$16K	$1K	40x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3361	−0.031%	$181K	$972K	50x	as long as short
Bybit GBPUSDUSDT	0.0000%	8h	1.3374	+0.068%	$246K	$54K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3386	+0.157%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3364	−0.007%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3369	+0.030%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3358	−0.050%	$990	—	20x	as long as short
HTX GBPUSD-USDTshort	0.0000%	1h	1.3367	+0.015%	$5K	$336K	20x
tradeXYZ xyz:GBP	+0.0031%	1h	1.3367	+0.015%	$246K	$349K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0039%	1h	1.3355	−0.076%	—	$5K	100x	as long as short
MEXC GBP_USDTlong	+0.0188%	4h	1.3365	long leg	$26.0M	$270K	100x
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3602	+1.773%	$11K	$72K	101x	as long as short