Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0315%/8h= +34.5% APRpaid last 24h +0.046%

Price spread now: Kraken Futures against KuCoin+0.213%7-day average +0.169% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,808as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,773as in the Price arb table

costs, in and out, $10k−$3,77837.777% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.301%−$30 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.213%, 7d avg +0.169%

Together, before fees−0.278%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.043% dearer against KuCoin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.169%. Mind the row above: over the last 7 days funding on this pair cost −0.301%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MEWUSDTM	0.0004732	0.0100	pay 0.0050% / 4h	2h 07m	$330K	$131K	30x
Short	Kraken Futures PF_MEWUSD	0.0004742	0.0415	get 0.0052% / 1h	7m 59s	$92K	$132K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.213%Rate

Funding earned: $66.2
Price spread: +0.213% → +0.169%: $4.34
Slippage, 4 orders: −$3,755.67
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3,707.13
Costs to cover: 37.777%
Break-even: 399.0 days

Slippage from KuCoin: live order book, 49 min ago; Kraken Futures: live order book, 39 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 KuCoin live order book, 49 min ago	15.86 bp	311.1 bp −$311	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 39 min ago	11.64 bp	54.8 bp −$55	doesn't fit	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	0.0004730	−0.042%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.841%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004728	−0.085%	$1.3M	$3.5M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004725	−0.148%	$1.5M	$1.5M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004728	−0.085%	$545K	$902K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004726	−0.127%	$137K	$140K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004731	−0.021%	$370K	$185K	125x	as long as short
KuCoin MEWUSDTMlong	+0.0100%	4h	0.0004732	long leg	$330K	$131K	30x
Bitget MEWUSDT	+0.0100%	4h	0.0004728	−0.085%	$486K	$541K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004723	−0.190%	—	$6.7M	—	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	0.0004706	−0.556%	$83K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0415%	1h	0.0004742	+0.213%	$92K	$132K	10x