SAPIEN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0262%/8h= −28.7% APRnext payment −$1.31 per $10,000 · paid last 24h −0.004%

Price spread now: MEXC against Gate−0.025%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1971.967% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now −0.025%, 7d avg −0.117%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.092% dearer against Gate than usual: you sell high and buy low (spread −0.025% now, against its 7-day average of −0.117%): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 7 days (−0.137% in total) that is about 4.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.137% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 per $10,000. 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	Gate SAPIEN_USDT	0.07945	0.0362	pay 0.0181% / 4h	36m 24s	$876K	$71K	50x
Short	MEXC SAPIEN_USDT	0.07943	0.0100	get 0.0050% / 4h	36m 24s	$9.4M	$108K	50x

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

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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 −0.025%Rate

Funding earned: −$55.02
Price spread: −0.025% → −0.117%: $9.22
Slippage, 4 orders: −$177.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$242.47
Costs to cover: 1.967%
Break-even: never at this rate

Slippage from Gate: live order book, 65 min ago; MEXC: live order book, 1 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, 65 min ago	9.47 bp	84.4 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.89 bp	16.4 bp −$16	65.6 bp −$656	271.2 bp −$27.1K	doesn't fit

SAPIEN 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
BloFin SAPIEN-USDT	+0.0099%	4h	0.07948	+0.038%	$91K	$16K	25x	as long as short
Aster SAPIENUSDT	+0.0100%	4h	0.07944	−0.008%	$46K	$4K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07943	−0.028%	$2.0M	$1.1M	25x	as long as short
Bybit SAPIENUSDT	+0.0100%	4h	0.07953	+0.101%	$510K	$119K	20x	as long as short
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.07955	+0.126%	$169K	$82K	10x	as long as short
MEXC SAPIEN_USDTshort	+0.0100%	4h	0.07943	−0.025%	$9.4M	$108K	50x
Bitget SAPIENUSDT	+0.0100%	4h	0.07948	+0.038%	$602K	$298K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07949	+0.050%	—	$6.5M	—	as long as short
Variational Omni SAPIEN	+0.0100%	4h	0.07975	+0.377%	$9K	$5K	—	as long as short
Extended SAPIEN-USD	+0.0104%	1h	0.07941	−0.057%	$3K	$195K	5x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SAPIENUSDTM	+0.0178%	4h	0.07943	−0.025%	$703K	$2.9M	30x	as long as short
Gate SAPIEN_USDTlong	+0.0362%	4h	0.07945	long leg	$876K	$71K	50x