Funding arb · Price arb /

IO

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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: MEXC against Gate−0.099%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1501.501% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.099%, 7d avg −0.043%

Together, before fees−0.039%−$4 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 0.056% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1512	0.0100	pay 0.0050% / 4h	3h 01m	$225K	$456K	50x
Short	MEXC IO_USDT	0.1511	0.0100	get 0.0050% / 4h	3h 01m	$1.2M	$218K	125x

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

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 GatebpFee MEXCbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.043%: −$5.57
Slippage, 4 orders: −$131.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$155.71
Costs to cover: 1.501%
Break-even: never at this rate

Slippage from Gate: live order book, 29 min ago; MEXC: live order book, 5 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, 29 min ago	3.03 bp	52.2 bp −$52	16363.9 bp −$163.6K	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	3.32 bp	22.0 bp −$22	160.5 bp −$1,605	330.4 bp −$33.0K	doesn't fit

IO on 14 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 IO-USDT	+0.0084%	4h	0.1512	−0.033%	$193K	$32K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1513	+0.020%	$1.0M	$274K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1513	+0.048%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1514	+0.078%	$3.0M	$4.8M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1513	+0.033%	$1.1M	$573K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1512	long leg	$225K	$456K	50x
MEXC IO_USDTshort	+0.0100%	4h	0.1511	−0.099%	$1.2M	$218K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1512	−0.033%	$347K	$192K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1513	+0.033%	$1.4M	$922K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1512	−0.033%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1506	−0.446%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1513	+0.050%	$2K	$210K	5x	as long as short
Injective IO/USDC PERP	+0.0277%	1h	0.1492	−1.355%	$2K	$196	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.9397%	1h	0.1515	+0.181%	$39K	$7K	10x	as long as short