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 −0.030%

Price spread now: OKX against MEXC−0.051%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.051%, 7d avg −0.026%

Together, before fees−0.027%−$3 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: OKX is 0.025% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01183	0.0100	pay 0.0050% / 4h	1h 15m	$12.4M	$1.4M	50x
Short	OKX W-USDT-SWAP	0.01183	0.0100	get 0.0050% / 4h	1h 15m	$1.3M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → −0.026%: −$2.47
Slippage, 4 orders: −$64.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$80.7
Costs to cover: 0.782%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; OKX: 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 MEXC live order book, 3 min ago	4.21 bp	10.1 bp −$10	57.5 bp −$575	94.2 bp −$9,417	180.0 bp −$90.0K
Sell OKX live order book, 1 min ago	2.11 bp	30.5 bp −$30	doesn't fit	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	−0.0003%	1h	0.01184	+0.034%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.181%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01184	+0.068%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01184	+0.059%	$3.0M	$5.3M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01182	−0.110%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAPshort	+0.0100%	4h	0.01183	−0.051%	$1.3M	$1.6M	20x
Gate W_USDT	+0.0100%	4h	0.01183	−0.042%	$430K	$236K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01183	long leg	$12.4M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01184	+0.068%	$389K	$193K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01186	+0.237%	$1.3M	$575K	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	0.01184	+0.068%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01182	−0.110%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	+0.288%	$125K	$383K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01183	−0.037%	$60K	$148K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0304%	1h	0.01196	+1.090%	$14K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0861%	1h	0.01186	+0.228%	$44K	$41K	15x	as long as short
Kraken Futures PF_WUSD	+0.1552%	1h	0.01186	+0.244%	$148K	$182K	20x	as long as short