Funding arb · Price arb /

IWM

RWAall IWM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h −0.009%

Price spread now: MEXC against Markets by Kinetiq+0.126%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$170.173% of the position

Long on Markets by Kinetiq Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.126%, 7d avg +0.040%

Together, before fees−0.275%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and MEXC is 0.086% dearer against Markets by Kinetiq than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.040%. Mind the row above: over the last 7 days funding on this pair cost −0.166%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Markets by Kinetiq mkts:SMALL2000	285.42	−0.0139	get 0.0017% / 1h	57m 24s	$566K	$358K	20x
Short	MEXC IWM_USDT	285.78	0.0076	get 0.0076% / 8h	57m 24s	$883K	$83K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Markets by Kinetiq. 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 Markets by KinetiqbpFee MEXCbpOrdersPrice spread, now +0.126%Rate

Funding earned: $45.25
Price spread: +0.126% → +0.040%: $8.57
Slippage, 4 orders: −$15.68
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Fee MEXC: 0 bp × 2 orders: $0
Net: $36.52
Costs to cover: 0.173%
Break-even: 1.4 days

Slippage from Markets by Kinetiq: live order book, 69 min ago; MEXC: live order book, 38 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 Markets by Kinetiq live order book, 69 min ago	0.88 bp	6.0 bp −$6	42.4 bp −$424	doesn't fit	doesn't fit
Sell MEXC live order book, 38 min ago	0.17 bp	1.8 bp −$2	113.2 bp −$1,132	210.0 bp −$21.0K	doesn't fit

IWM on 17 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
Markets by Kinetiq mkts:SMALL2000long	−0.0139%	1h	285.42	long leg	$566K	$358K	20x
Aster IWMUSDT	0.0000%	8h	285.76	+0.120%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.56	+0.049%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.035%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.74	+0.112%	$608K	$157K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.73	+0.109%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.78	+0.126%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.47	+0.018%	$1K	$453K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.83	+0.144%	$474	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.81	+0.137%	$766K	$81K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	286.32	+0.315%	$75K	$19K	10x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.57	+0.053%	—	—	25x	as long as short
BloFin IWM-USDT	+0.0057%	8h	285.83	+0.144%	$67K	$33K	20x	as long as short
MEXC IWM_USDTshort	+0.0076%	8h	285.78	+0.126%	$883K	$83K	50x
Binance IWMUSDT	+0.0076%	8h	285.79	+0.130%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.81	+0.137%	$141K	$855K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0547%	8h	285.80	+0.133%	$1K	$104K	10x	as long as short