Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin+0.127%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$252as in the Price arb table

costs, in and out, $10k−$2642.643% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.127%, 7d avg +0.002%

Together, before fees−0.116%−$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: MEXC is 0.125% dearer against KuCoin than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01179	0.0100	pay 0.0050% / 4h	35m 45s	$378K	$212K	50x
Short	MEXC W_USDT	0.01180	0.0100	get 0.0050% / 4h	35m 45s	$12.8M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now +0.127%Rate

Funding earned: $0
Price spread: +0.127% → +0.002%: $12.53
Slippage, 4 orders: −$248.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$251.75
Costs to cover: 2.643%
Break-even: never at this rate

Slippage from KuCoin: live order book, 46 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 KuCoin live order book, 46 min ago	16.79 bp	135.4 bp −$135	326.4 bp −$3,264	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	4.23 bp	12.9 bp −$13	63.8 bp −$638	85.5 bp −$8,549	151.7 bp −$75.8K

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0259%	1h	0.01178	−0.110%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.545%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01180	+0.085%	$2.0M	$344K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01181	+0.161%	$2.9M	$6.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01179	0.000%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01180	+0.051%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01180	+0.068%	$446K	$229K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01180	+0.127%	$12.8M	$1.4M	50x
KuCoin WUSDTMlong	+0.0100%	4h	0.01179	long leg	$378K	$212K	50x
Bitget WUSDT	+0.0100%	4h	0.01180	+0.085%	$1.3M	$580K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01180	+0.085%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01175	−0.297%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01183	+0.340%	$128K	$410K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01180	+0.101%	$59K	$231K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01186	+0.594%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.0489%	1h	0.01180	+0.110%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1694%	1h	0.01180	+0.105%	$146K	$183K	20x	as long as short