Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0589%/8h= +64.5% APRpaid last 24h −0.007%

Price spread now: Kraken Futures against BingX+0.261%7-day average +0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,045as in the Funding arb table

Net, price: spread back to 7d avg − costs−$988as in the Price arb table

costs, in and out, $10k−$9999.987% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.460%−$46 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.261%, 7d avg +0.152%

Together, before fees−0.426%−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Kraken Futures is 0.109% dearer against BingX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.152%. Mind the row above: over the last 7 days funding on this pair cost −0.460%, 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	BingX MEW-USDT	0.0004660	0.0100	pay 0.0050% / 4h	3h 52m	—	$24.2M	—
Short	Kraken Futures PF_MEWUSD	0.0004672	0.0689	get 0.0086% / 1h	52m 34s	$91K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.261%Rate

Funding earned: $123.69
Price spread: +0.261% → +0.152%: $10.91
Slippage, 4 orders: −$978.66
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$864.06
Costs to cover: 9.987%
Break-even: 55.9 days

Slippage from BingX: live order book, 6 min ago; Kraken Futures: live order book, 20 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 BingX live order book, 6 min ago	6.37 bp	22.7 bp −$23	60.7 bp −$607	655.2 bp −$65.5K	970.3 bp −$485.1K
Sell Kraken Futures live order book, 20 min ago	11.76 bp	57.1 bp −$57	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	0.0004660	0.000%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.464%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004664	+0.084%	$1.2M	$2.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004659	−0.021%	$1.5M	$1.0M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004660	0.000%	$522K	$692K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004659	−0.021%	$123K	$77K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004664	+0.086%	$386K	$172K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004669	+0.193%	$340K	$115K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004662	+0.043%	$493K	$364K	50x	as long as short
BingX MEW-USDTlong	+0.0100%	4h	0.0004660	long leg	—	$24.2M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004684	+0.512%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0689%	1h	0.0004672	+0.261%	$91K	$129K	10x