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Funding arb · Price arb /

TMF

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 16:00 UTC+0.0427%/8h= +46.8% APRnext payment +$4.27 per $10,000 · paid last 24h +0.039%
Price spread now: MEXC against OKX0.000%7-day average −0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$239as in the Funding arb table
Net, price: spread back to 7d avg − costs−$242as in the Price arb table
costs, in and out, $10k−$2492.492% of the position
Long on OKXShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 7 days+0.104%+$10 on $10k
Price spread, last 4 days (all we have)−0.034%−$3 · spread now 0.000%, 7d avg −0.077%
Together, before fees+0.070%+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and MEXC is 0.077% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.077%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.104% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX TMF-USDT-SWAP29.9300.0521pay 0.0521% / 8h7h 44m$149K$138K20x
ShortMEXC TMF_USDT29.9300.0948get 0.0948% / 8h7h 44m$639K$90K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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

Funding earned
$89.72
Price spread: 0.000% → −0.077%
$7.71
Slippage, 4 orders
−$239.25
Fee OKX: 5 bp × 2 orders
−$10
Fee MEXC: 0 bp × 2 orders
$0
Net
−$151.82
Costs to cover
2.492%
Break-even
18.8 days
Slippage from OKX: live order book, 51 min ago; MEXC: live order book, 46 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 51 min ago8.36 bp117.8 bp −$118doesn't fitdoesn't fitdoesn't fit
Sell MEXC live order book, 46 min ago8.36 bp27.2 bp −$27117.5 bp −$1,175198.5 bp −$19.8K273.4 bp −$136.7K

TMF on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TMFUSDC−0.0589%4h29.952+0.075%$13K$287K10xas long as short
Bybit TMFUSDT0.0000%8h29.950+0.067%$162K$55K25xas long as short
Gate TMF_USDT0.0000%8h29.900−0.100%$52K$8K20xas long as short
Bitget TMFUSDT0.0000%8h29.889−0.137%$165K$90K20xas long as short
HTX TMF-USDT0.0000%8h29.960+0.100%$9K$251K10xas long as short
OKX TMF-USDT-SWAPlong+0.0521%8h29.930long leg$149K$138K20x
Variational Omni TMF+0.0858%8h29.955+0.084%$29K$6K—as long as short
Binance TMFUSDT+0.0945%8h29.965+0.116%$1.2M$515K25xas long as short
MEXC TMF_USDTshort+0.0948%8h29.9300.000%$639K$90K20x