Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against MEXC+0.206%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$563as in the Funding arb table

Net, price: spread back to 7d avg − costs−$553as in the Price arb table

costs, in and out, $10k−$5705.703% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now +0.206%, 7d avg +0.035%

Together, before fees−0.097%−$10 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 0.170% dearer against MEXC than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IO_USDT	0.1508	0.0100	pay 0.0050% / 4h	2h 11m	$1.1M	$239K	125x
Short	Gate IO_USDT	0.1511	0.0100	get 0.0050% / 4h	2h 11m	$231K	$542K	50x

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

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 GatebpOrdersPrice spread, now +0.206%Rate

Funding earned: $0
Price spread: +0.206% → +0.035%: $17.04
Slippage, 4 orders: −$551.31
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$553.27
Costs to cover: 5.703%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Gate: live order book, 9 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, 4 min ago	6.62 bp	27.3 bp −$27	186.8 bp −$1,868	275.3 bp −$27.5K	doesn't fit
Sell Gate live order book, 9 min ago	6.27 bp	261.5 bp −$261	doesn't fit	doesn't fit	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
Injective IO/USDC PERP	−0.0157%	1h	0.1516	+0.531%	$2K	$103	5.5x	as long as short
BloFin IO-USDT	+0.0042%	4h	0.1514	+0.398%	$193K	$30K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1510	+0.139%	$1.0M	$391K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1511	+0.174%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1511	+0.199%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1507	−0.066%	$1.1M	$868K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1511	+0.206%	$231K	$542K	50x
MEXC IO_USDTlong	+0.0100%	4h	0.1508	long leg	$1.1M	$239K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1511	+0.199%	$402K	$655K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1511	+0.199%	$1.3M	$1.2M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1510	+0.133%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1509	+0.095%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1511	+0.189%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSD	+0.5440%	1h	0.1511	+0.221%	$39K	$21K	10x	as long as short