Funding arb · Price arb /

MEW

all MEW markets

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 0.000%

Price spread now: OKX against Binance−0.210%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1241.242% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now −0.210%, 7d avg −0.067%

Together, before fees+0.123%+$12 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 0.143% cheaper against Binance than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEWUSDT	0.0004762	0.0100	pay 0.0050% / 4h	1h 19m	$1.3M	$3.6M	50x
Short	OKX MEW-USDT-SWAP	0.0004752	0.0100	get 0.0050% / 4h	1h 19m	$547K	$917K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.210%Rate

Funding earned: $0
Price spread: −0.210% → −0.067%: −$14.35
Slippage, 4 orders: −$104.21
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$138.56
Costs to cover: 1.242%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; OKX: live order book, 22 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, 2 min ago	4.20 bp	25.3 bp −$25	177.2 bp −$1,772	doesn't fit	doesn't fit
Sell OKX live order book, 22 min ago	4.24 bp	35.3 bp −$35	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	0.0004750	−0.252%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.403%	$46	$14K	5.5x	as long as short
Binance MEWUSDTlong	+0.0100%	4h	0.0004762	long leg	$1.3M	$3.6M	50x
Bybit MEWUSDT	+0.0100%	4h	0.0004755	−0.147%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004752	−0.210%	$547K	$917K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004753	−0.189%	$140K	$143K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004760	−0.042%	$377K	$187K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004758	−0.084%	$330K	$132K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004763	+0.021%	$486K	$539K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004758	−0.084%	—	$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	0.0004756	−0.122%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0787%	1h	0.0004766	+0.081%	$93K	$135K	10x	as long as short