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: Bybit against Gate+0.021%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$261as in the Price arb table

costs, in and out, $10k−$2562.563% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.021%, 7d avg +0.072%

Together, before fees+0.010%+$1 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: Bybit is 0.051% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MEW_USDT	0.0004676	0.0100	pay 0.0050% / 4h	3h 33m	$128K	$84K	50x
Short	Bybit MEWUSDT	0.0004677	0.0100	get 0.0050% / 4h	3h 33m	$1.5M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.072%: −$5.09
Slippage, 4 orders: −$230.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$261.35
Costs to cover: 2.563%
Break-even: never at this rate

Slippage from Gate: live order book, 32 min ago; Bybit: 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 Gate live order book, 32 min ago	6.42 bp	145.6 bp −$146	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.34 bp	29.1 bp −$29	70.5 bp −$705	doesn't fit	doesn't fit

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	0.0004670	−0.128%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.773%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004677	+0.015%	$1.2M	$2.8M	50x	as long as short
Bybit MEWUSDTshort	+0.0100%	4h	0.0004677	+0.021%	$1.5M	$1.1M	25x
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004677	+0.021%	$526K	$710K	20x	as long as short
Gate MEW_USDTlong	+0.0100%	4h	0.0004676	long leg	$128K	$84K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004676	0.000%	$388K	$174K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004678	+0.043%	$341K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004676	0.000%	$494K	$366K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004678	+0.043%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004680	+0.091%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0688%	1h	0.0004679	+0.072%	$92K	$108K	10x	as long as short