Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.046%

Price spread now: Kraken Futures against Binance+0.221%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,305as in the Price arb table

costs, in and out, $10k−$3,31633.159% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.221%, 7d avg +0.112%

Together, before fees−0.300%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.109% dearer against Binance than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.112%. Mind the row above: over the last 7 days funding on this pair cost −0.354%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004722	0.0100	pay 0.0050% / 4h	2h 03m	$1.3M	$3.5M	50x
Short	Kraken Futures PF_MEWUSD	0.0004733	0.0416	get 0.0052% / 1h	3m 16s	$91K	$132K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.221%Rate

Funding earned: $66.38
Price spread: +0.221% → +0.112%: $10.88
Slippage, 4 orders: −$3,295.89
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3,238.63
Costs to cover: 33.159%
Break-even: 348.5 days

Slippage from Binance: live order book, 3 min ago; Kraken Futures: live order book, 44 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, 3 min ago	4.23 bp	23.2 bp −$23	167.3 bp −$1,673	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 44 min ago	11.64 bp	54.8 bp −$55	doesn't fit	doesn't fit	doesn't fit

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	0.0004720	−0.047%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.656%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004722	long leg	$1.3M	$3.5M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004718	−0.089%	$1.5M	$1.5M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004719	−0.068%	$543K	$902K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004717	−0.110%	$137K	$140K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004721	−0.025%	$369K	$186K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004723	+0.017%	$330K	$131K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004723	+0.017%	$486K	$543K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004721	−0.025%	—	$6.7M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004722	−0.001%	$83K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0416%	1h	0.0004733	+0.221%	$91K	$132K	10x