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: Binance against OKX+0.171%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1091.087% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.171%, 7d avg +0.065%

Together, before fees−0.083%−$8 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: Binance is 0.107% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MEW-USDT-SWAP	0.0004665	0.0100	pay 0.0050% / 4h	3h 03m	$526K	$714K	20x
Short	Binance MEWUSDT	0.0004673	0.0100	get 0.0050% / 4h	3h 03m	$1.2M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.171%Rate

Funding earned: $0
Price spread: +0.171% → +0.065%: $10.68
Slippage, 4 orders: −$88.74
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$98.06
Costs to cover: 1.087%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Binance: live order book, 2 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 OKX live order book, 3 min ago	3.19 bp	31.0 bp −$31	6480.2 bp −$64.8K	145919.9 bp −$14.59M	doesn't fit
Sell Binance live order book, 2 min ago	1.06 bp	25.5 bp −$26	82.9 bp −$829	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	+0.107%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.561%	$46	$14K	5.5x	as long as short
Binance MEWUSDTshort	+0.0100%	4h	0.0004673	+0.171%	$1.2M	$2.8M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004670	+0.107%	$1.5M	$1.1M	25x	as long as short
OKX MEW-USDT-SWAPlong	+0.0100%	4h	0.0004665	long leg	$526K	$714K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004667	+0.043%	$130K	$87K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004673	+0.171%	$388K	$176K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004673	+0.171%	$339K	$116K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004670	+0.107%	$491K	$367K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004667	+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	0.0004705	+0.850%	$83K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0684%	1h	0.0004704	+0.839%	$92K	$106K	10x	as long as short