Funding arb · Price arb /

MEW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against MEXC−11.142%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 11.142% cheaper against MEXC than usual: you would sell low and buy high (−$1,114 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MEW_USDT	0.0004748	0.0100	pay 0.0050% / 4h	1h 46m	$354K	$176K	125x
Short	Injective MEW/USDC PERP	0.0004219	0.0033	get 0.0004% / 1h	46m 39s	$46	$14K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee InjectivebpOrdersPrice spread, now −11.142%Rate

Funding earned: −$14
Price spread: −11.142% → 0.000%: −$1,114.15
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,132.17
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 58 min ago; Injective: no order-book sample. 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 MEXC live order book, 58 min ago	1.05 bp	16.6 bp −$17	65.9 bp −$659	213.8 bp −$21.4K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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	0.0004740	−0.168%	—	—	100x	as long as short
Injective MEW/USDC PERPshort	+0.0033%	1h	0.0004219	−11.142%	$46	$14K	5.5x
Binance MEWUSDT	+0.0100%	4h	0.0004748	+0.008%	$1.3M	$3.6M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004742	−0.126%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004741	−0.147%	$565K	$972K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004739	−0.190%	$137K	$113K	50x	as long as short
MEXC MEW_USDTlong	+0.0100%	4h	0.0004748	long leg	$354K	$176K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004748	0.000%	$374K	$120K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004747	−0.021%	$482K	$557K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004746	−0.042%	—	$9.5M	—	as long as short

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004747	−0.015%	$83K	$37K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0892%	1h	0.0004748	+0.004%	$100K	$135K	10x	as long as short