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: BingX against OKX+0.065%7-day average +0.027% · 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−$104as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on OKX Short on BingX

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)−0.012%−$1 · spread now +0.065%, 7d avg +0.027%

Together, before fees+0.043%+$4 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: BingX is 0.038% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MEW-USDT-SWAP	0.0004643	0.0100	pay 0.0050% / 4h	2h 16m	$524K	$751K	20x
Short	BingX MEW-USDT	0.0004646	0.0100	get 0.0050% / 4h	2h 16m	—	$24.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → +0.027%: $3.78
Slippage, 4 orders: −$88.22
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$104.44
Costs to cover: 1.082%
Break-even: never at this rate

Slippage from OKX: live order book, 49 min ago; BingX: live order book, 7 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, 49 min ago	3.19 bp	31.0 bp −$31	6480.2 bp −$64.8K	145919.9 bp −$14.59M	doesn't fit
Sell BingX live order book, 7 min ago	6.46 bp	25.4 bp −$25	68.0 bp −$680	743.5 bp −$74.3K	1096.1 bp −$548.1K

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	0.0004640	−0.065%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.132%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004647	+0.086%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004645	+0.043%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAPlong	+0.0100%	4h	0.0004643	long leg	$524K	$751K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004643	0.000%	$136K	$119K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004647	+0.086%	$386K	$179K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004645	+0.043%	$336K	$116K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004646	+0.065%	$499K	$379K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004646	+0.065%	—	$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	0.0004644	+0.025%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0815%	1h	0.0004649	+0.120%	$91K	$106K	10x	as long as short