Funding arb · Price arb /

INIT

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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: MEXC against OKX+0.082%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1491.487% of the position

Long on OKX Short on MEXC

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)−0.345%−$35 · spread now +0.082%, 7d avg +0.009%

Together, before fees−0.345%−$35 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: MEXC is 0.073% dearer against OKX than usual: you sell high and buy low, +$7 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	OKX INIT-USDT-SWAP	0.08487	0.0100	pay 0.0050% / 4h	2h 55m	$142K	$412K	10x
Short	MEXC INIT_USDT	0.08494	0.0100	get 0.0050% / 4h	2h 55m	$438K	$138K	20x

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 +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.009%: $7.32
Slippage, 4 orders: −$134.69
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$141.37
Costs to cover: 1.487%
Break-even: never at this rate

Slippage from OKX: live order book, 35 min ago; MEXC: live order book, 24 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, 35 min ago	5.38 bp	57.4 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 24 min ago	5.30 bp	14.8 bp −$15	90.2 bp −$902	232.3 bp −$23.2K	doesn't fit

INIT 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
Kraken Futures PF_INITUSD	−0.0238%	1h	0.08504	+0.197%	$5K	$13K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08497	+0.115%	$316K	$132K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08480	−0.082%	$28K	$7K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08490	+0.035%	$3.5M	$2.3M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08488	+0.012%	$1.5M	$1.0M	25x	as long as short
OKX INIT-USDT-SWAPlong	+0.0100%	4h	0.08487	long leg	$142K	$412K	10x
Gate INIT_USDT	+0.0100%	8h	0.08488	+0.012%	$83K	$12K	25x	as long as short
MEXC INIT_USDTshort	+0.0100%	4h	0.08494	+0.082%	$438K	$138K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08506	+0.224%	$329K	$35K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08492	+0.059%	$410K	$201K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08489	+0.024%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08495	+0.098%	$27K	$10K	—	as long as short
BloFin INIT-USDT	+0.0143%	4h	0.08507	+0.236%	$154K	$32K	25x	as long as short