Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.010%

Price spread now: MEXC against OKX−0.099%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.099%, 7d avg +0.018%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.117% cheaper against OKX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX FET-USDT-SWAP	0.2030	0.0194	pay 0.0097% / 4h	2h 15m	$1.0M	$8.1M	20x
Short	MEXC FET_USDT	0.2028	0.0100	get 0.0100% / 8h	6h 15m	$31.1M	$25.2M	200x

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

Position, each leg$Hold fordaysFee OKXbpFee MEXCbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$19.77
Price spread: −0.099% → +0.018%: −$11.67
Slippage, 4 orders: −$34.67
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$76.11
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; MEXC: live order book, 3 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 OKX live order book, 3 min ago	2.46 bp	16.6 bp −$17	59.7 bp −$597	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.47 bp	5.5 bp −$5	9.6 bp −$96	41.7 bp −$4,172	175.9 bp −$88.0K

FET on 19 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
Deribit FET_USDC-PERPETUAL	−0.4162%	1h	0.2031	+0.049%	$30K	$231K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0760%	1h	0.2026	−0.197%	$147K	$218K	50x	as long as short
Kraken Futures PF_FETUSD	−0.0738%	1h	0.2031	+0.072%	$991K	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0015%	1h	0.2027	−0.134%	$23K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−0.985%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2026	−0.196%	$259K	$719K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2029	−0.049%	$31.4M	$112.2M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2027	−0.148%	$2.7M	$12.4M	50x	as long as short
MEXC FET_USDTshort	+0.0100%	8h	0.2028	−0.099%	$31.1M	$25.2M	200x
KuCoin FETUSDTM	+0.0100%	8h	0.2029	−0.049%	$10.6M	$19.1M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FET	+0.0100%	8h	0.2026	−0.191%	$335K	$420K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2027	−0.148%	$38K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2028	−0.075%	$33K	$250K	10x	as long as short
OKX FET-USDT-SWAPlong	+0.0194%	4h	0.2030	long leg	$1.0M	$8.1M	20x
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2027	−0.139%	$14K	—	100x	as long as short
Hyperliquid FET	+0.0329%	1h	0.2031	+0.059%	$9.0M	$8.3M	5x	as long as short
BingX FET-USDT	+0.0349%	8h	0.2030	0.000%	—	$6.0M	—	as long as short
Bitget FETUSDT	+0.0368%	8h	0.2031	+0.049%	$16.4M	$11.8M	75x	as long as short
Phoenix FET	+0.0474%	1h	0.2025	−0.261%	$35K	$43K	5x	as long as short