Funding arb · Price arb /

MEW

all MEW markets

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: BingX against Binance−0.064%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$900.899% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.064%, 7d avg −0.038%

Together, before fees+0.129%+$13 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: BingX is 0.027% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004663	0.0100	pay 0.0050% / 4h	1h 59m	$1.1M	$2.6M	50x
Short	BingX MEW-USDT	0.0004660	0.0100	get 0.0050% / 4h	1h 59m	—	$22.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → −0.038%: −$2.68
Slippage, 4 orders: −$69.93
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$92.61
Costs to cover: 0.899%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; BingX: 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 Binance live order book, 5 min ago	3.21 bp	26.8 bp −$27	212.9 bp −$2,129	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	5.35 bp	20.8 bp −$21	67.2 bp −$672	677.3 bp −$67.7K	1021.6 bp −$510.8K

MEW on 12 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004650	−0.279%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.522%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004663	long leg	$1.1M	$2.6M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004663	0.000%	$1.5M	$976K	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004659	−0.086%	$523K	$654K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004660	−0.064%	$124K	$75K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004663	0.000%	$385K	$173K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004663	0.000%	$352K	$112K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004660	−0.064%	$475K	$348K	50x	as long as short
BingX MEW-USDTshort	+0.0100%	4h	0.0004660	−0.064%	—	$22.3M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004663	−0.004%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0559%	1h	0.0004676	+0.282%	$92K	$132K	10x	as long as short