Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0648%/8h= +70.9% APRpaid last 24h +0.062%

Price spread now: Kraken Futures against OKX+0.255%7-day average +0.186% · you sell dearer than you buy

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

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.255%, 7d avg +0.186%

Together, before fees−0.312%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.069% dearer against OKX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.186%. Mind the row above: over the last 7 days funding on this pair cost −0.268%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.268% in total (about -14.0% 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	OKX MEW-USDT-SWAP	0.0004732	0.0100	pay 0.0050% / 4h	7m 22s	$551K	$941K	20x
Short	Kraken Futures PF_MEWUSD	0.0004744	0.0748	get 0.0093% / 1h	7m 22s	$96K	$141K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.255%Rate

Funding earned: $136
Price spread: +0.255% → +0.186%: $6.89
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $122.88
Costs to cover: 0.200%
Break-even: 0.7 days

Slippage unknown: OKX: live order book, 29 min ago; Kraken Futures: live order book, 30 min ago. 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 OKX live order book, 29 min ago	3.16 bp	35.8 bp −$36	11780.1 bp −$117.8K	194722.0 bp −$19.47M	doesn't fit
Sell Kraken Futures live order book, 30 min ago	30.40 bp	doesn't fit	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	0.0004738	+0.127%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004736	+0.085%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAPlong	+0.0100%	4h	0.0004732	long leg	$551K	$941K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004732	0.000%	$137K	$148K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004738	+0.127%	$379K	$183K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004745	+0.275%	$335K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004738	+0.127%	$489K	$551K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004734	+0.042%	—	$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	0.0004742	+0.209%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0748%	1h	0.0004744	+0.255%	$96K	$141K	10x