Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against MEXC+0.023%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.023% dearer against MEXC than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.04384	0.0100	pay 0.0050% / 4h	4m 28s	$4.6M	$2.1M	200x
Short	gTrade (Gains Network) S/USD	0.04385	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	4m 28s	$676	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.023%Rate

Funding earned: −$22.28
Price spread: +0.023% → 0.000%: $2.35
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.93
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; gTrade (Gains Network): 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, 3 min ago	2.30 bp	5.2 bp −$5	58.3 bp −$583	267.1 bp −$26.7K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

S on 25 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
01 Exchange SUSD	−0.9288%	1h	0.04470	+1.962%	$28K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1797%	1h	0.04398	+0.324%	$36K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1064%	1h	0.04342	−0.958%	$53K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04383	−0.021%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04380	−0.082%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.04374	−0.219%	$678K	$7K	—	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.04385	+0.023%	$676	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	−6.478%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0088%	4h	0.04389	+0.114%	$109K	$606K	10x	as long as short
Lighter S	+0.0096%	1h	0.04396	+0.274%	$189K	$143K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04386	+0.041%	$1.1M	$646K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04387	+0.066%	$47K	$153K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04385	+0.023%	$6.4M	$15.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04377	−0.160%	$6.3M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04380	−0.091%	$1.2M	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04384	0.000%	$351K	$209K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.04384	long leg	$4.6M	$2.1M	200x
KuCoin SUSDTM	+0.0100%	4h	0.04387	+0.068%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04380	−0.091%	$1.3M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04379	−0.114%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04350	−0.776%	$25K	$506K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04385	+0.015%	$243K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04388	+0.091%	$300K	$121K	75x	as long as short
Backpack S_USDC_PERP	+0.0970%	1h	0.04410	+0.593%	$107K	$468K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.1110%	1h	0.04418	+0.776%	$74K	$10K	10x	as long as short