Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Gate against MEXC+0.128%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1531.527% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)−0.215%−$21 · spread now +0.128%, 7d avg −0.054%

Together, before fees−0.119%−$12 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: Gate is 0.182% dearer against MEXC than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03904	0.0100	pay 0.0050% / 4h	23m 36s	$3.5M	$1.9M	200x
Short	Gate S_USDT	0.03909	0.0100	get 0.0050% / 4h	23m 36s	$319K	$259K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → −0.054%: $18.19
Slippage, 4 orders: −$133.71
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$134.52
Costs to cover: 1.527%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Gate: live order book, 51 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 MEXC live order book, 4 min ago	1.28 bp	4.0 bp −$4	34.1 bp −$341	253.2 bp −$25.3K	doesn't fit
Sell Gate live order book, 51 min ago	5.13 bp	79.4 bp −$79	doesn't fit	doesn't fit	doesn't fit

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	−0.5912%	1h	0.03850	−1.383%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2137%	1h	0.03903	−0.022%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−1.998%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0978%	4h	0.03906	+0.053%	$608K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0203% / S +0.0195%	1h	0.03910	+0.151%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03905	+0.018%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03909	+0.136%	$603	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03907	+0.077%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.020%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03907	+0.077%	$164K	$217K	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	0.03905	+0.038%	$978K	$676K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03915	+0.283%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03905	+0.026%	$5.3M	$17.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03898	−0.154%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03903	−0.026%	$976K	$4.9M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03909	+0.128%	$319K	$259K	50x
MEXC S_USDTlong	+0.0100%	4h	0.03904	long leg	$3.5M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03907	+0.077%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03910	+0.154%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03903	−0.026%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.154%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03904	−0.007%	$220K	$877K	10x	as long as short
Backpack S_USDC_PERP	+0.0106%	1h	0.03920	+0.410%	$114K	$313K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03910	+0.154%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03912	+0.205%	$267K	$125K	75x	as long as short