Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC+0.012%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$200as in the Price arb table

costs, in and out, $10k−$2022.019% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now +0.012%, 7d avg −0.009%

Together, before fees+0.093%+$9 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: OKX is 0.021% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08585	0.0100	pay 0.0050% / 4h	1h 54m	$439K	$126K	20x
Short	OKX INIT-USDT-SWAP	0.08586	0.0100	get 0.0050% / 4h	1h 54m	$143K	$396K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.009%: $2.09
Slippage, 4 orders: −$187.93
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$199.85
Costs to cover: 2.019%
Break-even: never at this rate

Slippage from MEXC: live order book, 51 min ago; OKX: live order book, 53 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, 51 min ago	3.52 bp	19.2 bp −$19	88.8 bp −$888	230.5 bp −$23.1K	doesn't fit
Sell OKX live order book, 53 min ago	9.40 bp	82.4 bp −$82	doesn't fit	doesn't fit	doesn't fit

INIT on 13 exchanges

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
Kraken Futures PF_INITUSD	−0.0297%	1h	0.08573	−0.136%	$5K	$13K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08586	+0.010%	$322K	$134K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08595	+0.117%	$28K	$5K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08584	−0.012%	$3.6M	$2.3M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08569	−0.186%	$1.5M	$996K	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08586	+0.012%	$143K	$396K	10x
Gate INIT_USDT	+0.0100%	8h	0.08573	−0.140%	$84K	$11K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08585	long leg	$439K	$126K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08583	−0.023%	$333K	$34K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08583	−0.023%	$416K	$199K	25x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08582	−0.035%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08564	−0.241%	$27K	$2K	—	as long as short
BloFin INIT-USDT	+0.0134%	4h	0.08577	−0.093%	$157K	$30K	25x	as long as short