Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against GMX−0.064%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.064% cheaper against GMX than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEW/USD [WBTC.b-USDC]	0.0004670	L 0.0000% / S 0.0000%	get 0.0000% / 1h	3m 00s	—	—	100x
Short	BingX MEW-USDT	0.0004667	0.0100	get 0.0050% / 4h	3h 03m	—	$24.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $21
Price spread: −0.064% → 0.000%: −$6.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$7.42
Costs to cover: 0.220%
Break-even: 9.5 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 5 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	6.36 bp	22.6 bp −$23	59.2 bp −$592	678.5 bp −$67.8K	1057.7 bp −$528.8K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L 0.0000% / S 0.0000%	1h	0.0004670	long leg	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.657%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004673	+0.064%	$1.2M	$2.8M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004670	0.000%	$1.5M	$1.1M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004665	−0.107%	$526K	$714K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004667	−0.064%	$130K	$87K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004673	+0.064%	$388K	$176K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004673	+0.064%	$339K	$116K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004670	0.000%	$491K	$367K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004667	−0.064%	—	$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	0.0004705	+0.742%	$83K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0684%	1h	0.0004704	+0.731%	$92K	$106K	10x	as long as short