Funding arb · Price arb /

ONE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h +0.428%

Price spread now: MEXC against Gate+0.111%7-day average +2.871% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$614as in the Price arb table

costs, in and out, $10k−$3383.378% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−8.034%−$803 on $10k

Price spread, last 7 days+1.120%+$112 · spread now +0.111%, 7d avg +2.871%

Together, before fees−6.914%−$691 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and MEXC is 2.761% cheaper against Gate than usual: you would sell low and buy high (−$276 if the spread goes back to its 7-day average of +2.871%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONE_USDT	0.003883	−0.0361	get 0.0361% / 8h	1h 55m	$1.7M	$14.9M	20x
Short	MEXC ONE_USDT	0.003887	−0.0520	pay 0.0065% / 1h	55m 35s	$11.0M	$14.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$33.39
Price spread: +0.111% → +2.871%: −$276.07
Slippage, 4 orders: −$318.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$647.3
Costs to cover: 3.378%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; MEXC: live order book, 3 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 Gate live order book, 3 min ago	5.21 bp	185.1 bp −$185	1669.5 bp −$16.7K	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.13 bp	13.2 bp −$13	74.0 bp −$740	285.2 bp −$28.5K	doesn't fit

ONE on 10 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
OKX ONE-USDT-SWAP	−5.5261%	1h	0.005310	+36.745%	$6.4M	$231.2M	10x	as long as short
Variational Omni ONE	−0.5185%	1h	0.003858	−0.653%	$95K	$46K	—	as long as short
Bitget ONEUSDT	−0.1616%	1h	0.003922	+1.012%	$1.8M	$30.7M	20x	as long as short
BloFin ONE-USDT	−0.1452%	1h	0.003845	−0.979%	$770K	$2.0M	50x	as long as short
Aster ONEUSDT	−0.0966%	1h	0.003878	−0.128%	$2.0M	$5.8M	5x	as long as short
Binance ONEUSDT	−0.0520%	1h	0.003885	+0.049%	$13.3M	$327.2M	50x	as long as short
MEXC ONE_USDTshort	−0.0520%	1h	0.003887	+0.111%	$11.0M	$14.6M	20x
KuCoin ONEUSDTM	−0.0520%	1h	0.004046	+4.198%	$3.7M	$12.0M	30x	as long as short
Gate ONE_USDTlong	−0.0361%	8h	0.003883	long leg	$1.7M	$14.9M	20x
BingX ONE-USDT	−0.0048%	1h	0.003886	+0.082%	—	$5.5M	—	as long as short