Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance−0.094%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$910.906% of the position

Long on Binance Short on BingX

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)+0.138%+$14 · spread now −0.094%, 7d avg −0.038%

Together, before fees+0.138%+$14 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: BingX is 0.056% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004694	0.0100	pay 0.0050% / 4h	3h 26m	$1.2M	$2.8M	50x
Short	BingX MEW-USDT	0.0004690	0.0100	get 0.0050% / 4h	3h 26m	—	$24.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.038%: −$5.62
Slippage, 4 orders: −$70.61
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$96.23
Costs to cover: 0.906%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; BingX: live order book, 12 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 Binance live order book, 9 min ago	4.27 bp	22.1 bp −$22	191.0 bp −$1,910	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	6.46 bp	22.2 bp −$22	62.9 bp −$629	616.0 bp −$61.6K	983.4 bp −$491.7K

MEW on 12 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004680	−0.307%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.127%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004694	long leg	$1.2M	$2.8M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004692	−0.051%	$1.5M	$1.1M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004694	−0.009%	$528K	$715K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004688	−0.136%	$131K	$86K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004691	−0.072%	$390K	$174K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004687	−0.158%	$341K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004697	+0.055%	$496K	$366K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004690	−0.094%	—	$24.2M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004689	−0.120%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0686%	1h	0.0004694	−0.005%	$92K	$106K	10x	as long as short