Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against MEXC−0.227%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$229as in the Funding arb table

Net, price: spread back to 7d avg − costs−$257as in the Price arb table

costs, in and out, $10k−$2352.346% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now −0.227%, 7d avg −0.003%

Together, before fees+0.185%+$18 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: KuCoin is 0.224% cheaper against MEXC than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01189	0.0100	pay 0.0050% / 4h	3h 43m	$12.8M	$1.3M	50x
Short	KuCoin WUSDTM	0.01186	0.0100	get 0.0050% / 4h	3h 43m	$376K	$210K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → −0.003%: −$22.4
Slippage, 4 orders: −$218.64
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$257.04
Costs to cover: 2.346%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; KuCoin: live order book, 29 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	1.68 bp	11.3 bp −$11	58.9 bp −$589	95.2 bp −$9,519	188.6 bp −$94.3K
Sell KuCoin live order book, 29 min ago	8.42 bp	102.7 bp −$103	229.5 bp −$2,295	doesn't fit	doesn't fit

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	−0.0086%	1h	0.01189	+0.017%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.708%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01189	+0.025%	$2.0M	$329K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01189	−0.008%	$3.0M	$6.2M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01187	−0.168%	$4.2M	$1.8M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01187	−0.143%	$1.3M	$1.8M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01187	−0.109%	$449K	$211K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01189	long leg	$12.8M	$1.3M	50x
KuCoin WUSDTMshort	+0.0100%	4h	0.01186	−0.227%	$376K	$210K	50x
Bitget WUSDT	+0.0100%	4h	0.01188	−0.059%	$1.3M	$564K	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	0.01188	−0.050%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01187	−0.102%	$71K	$40K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01189	+0.025%	$128K	$402K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01188	−0.036%	$60K	$233K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01195	+0.564%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.1738%	1h	0.01190	+0.143%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1757%	1h	0.01192	+0.254%	$148K	$184K	20x	as long as short