Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against MEXC−0.160%7-day average −0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$498as in the Funding arb table

Net, price: spread back to 7d avg − costs−$505as in the Price arb table

costs, in and out, $10k−$4994.987% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.218%+$22 · spread now −0.160%, 7d avg −0.101%

Together, before fees+0.221%+$22 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 0.060% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01187	0.0100	pay 0.0050% / 4h	1h 56m	$12.3M	$1.2M	50x
Short	Gate W_USDT	0.01185	0.0100	get 0.0050% / 4h	1h 56m	$433K	$167K	75x

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

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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 MEXCbpFee GatebpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.101%: −$5.95
Slippage, 4 orders: −$479.68
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$504.64
Costs to cover: 4.987%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Gate: live order book, 52 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, 5 min ago	2.10 bp	10.4 bp −$10	54.7 bp −$547	91.6 bp −$9,162	155.8 bp −$77.9K
Sell Gate live order book, 52 min ago	11.51 bp	170.0 bp −$170	doesn't fit	doesn't fit	doesn't fit

W on 17 exchanges

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	−0.0676%	1h	0.01187	−0.017%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.836%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01188	+0.067%	$2.0M	$258K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	0.000%	$3.0M	$4.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01185	−0.177%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01186	−0.067%	$1.3M	$1.3M	20x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01185	−0.160%	$433K	$167K	75x
MEXC W_USDTlong	+0.0100%	4h	0.01187	long leg	$12.3M	$1.2M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01186	−0.101%	$388K	$180K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01188	+0.067%	$1.3M	$533K	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01186	−0.126%	—	$6.6M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01185	−0.146%	$69K	$21K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	−0.002%	$127K	$375K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	+0.003%	$60K	$392K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0640%	1h	0.01190	+0.261%	$13K	$12K	50x	as long as short
Kraken Futures PF_WUSD	+0.0876%	1h	0.01189	+0.173%	$148K	$47K	20x	as long as short
Backpack W_USDC_PERP	+0.0899%	1h	0.01188	+0.101%	$45K	$46K	15x	as long as short