Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Gate−0.020%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1341.344% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.020%, 7d avg −0.042%

Together, before fees−0.079%−$8 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 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1489	0.0100	pay 0.0050% / 4h	19m 38s	$230K	$473K	50x
Short	MEXC IO_USDT	0.1489	0.0100	get 0.0050% / 4h	19m 38s	$1.2M	$217K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.042%: $2.21
Slippage, 4 orders: −$115.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$132.2
Costs to cover: 1.344%
Break-even: never at this rate

Slippage from Gate: live order book, 16 min ago; MEXC: live order book, 1 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 Gate live order book, 16 min ago	6.39 bp	36.4 bp −$36	13209.4 bp −$132.1K	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	6.73 bp	23.5 bp −$24	179.1 bp −$1,791	349.6 bp −$35.0K	doesn't fit

IO on 14 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
BloFin IO-USDT	+0.0046%	4h	0.1487	−0.154%	$191K	$33K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1490	+0.067%	$1.0M	$274K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1489	−0.014%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1490	+0.047%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1488	−0.074%	$1.1M	$642K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1489	long leg	$230K	$473K	50x
MEXC IO_USDTshort	+0.0100%	4h	0.1489	−0.020%	$1.2M	$217K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1488	−0.087%	$341K	$196K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1490	+0.047%	$1.4M	$977K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1489	−0.020%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1485	−0.306%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1490	+0.026%	$3K	$209K	5x	as long as short
Injective IO/USDC PERP	+0.0563%	1h	0.1492	+0.181%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.5946%	1h	0.1492	+0.181%	$39K	$7K	10x	as long as short