Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0715%/8h= −78.3% APRpaid last 24h +0.013%

Price spread now: MEXC against Kraken Futures−0.097%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3,499as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,541as in the Price arb table

costs, in and out, $10k−$3,54335.430% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.435%+$44 on $10k

Price spread, last 3 days (all we have)−0.142%−$14 · spread now −0.097%, 7d avg −0.114%

Together, before fees+0.293%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.114%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.435%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.435% in total (about 22.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MEWUSD	0.0004646	0.0815	pay 0.0102% / 1h	34m 13s	$91K	$107K	10x
Short	MEXC MEW_USDT	0.0004642	0.0100	get 0.0050% / 4h	2h 34m	$387K	$178K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$150.21
Price spread: −0.097% → −0.114%: $1.77
Slippage, 4 orders: −$3,529
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3,691.45
Costs to cover: 35.430%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; MEXC: live order book, 16 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 Kraken Futures live order book, 33 min ago	44.48 bp	3427.0 bp −$3,427	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 16 min ago	1.07 bp	13.6 bp −$14	61.1 bp −$611	211.8 bp −$21.2K	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	0.0004630	−0.355%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.200%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004642	−0.090%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004642	−0.097%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004639	−0.161%	$520K	$743K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004639	−0.161%	$140K	$117K	50x	as long as short
MEXC MEW_USDTshort	+0.0100%	4h	0.0004642	−0.097%	$387K	$178K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004634	−0.269%	$335K	$117K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004634	−0.269%	$484K	$376K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004632	−0.312%	—	$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	0.0004633	−0.295%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSDlong	+0.0815%	1h	0.0004646	long leg	$91K	$107K	10x