Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: GMX against Bitget−0.063%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GMX is 0.063% cheaper against Bitget than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MEWUSDT	0.0004743	0.0100	pay 0.0050% / 4h	1h 51m	$482K	$555K	50x
Short	GMX MEW/USD [WBTC.b-USDC]	0.0004740	L 0.0000% / S 0.0000%	get 0.0000% / 1h	51m 46s	—	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$21
Price spread: −0.063% → 0.000%: −$6.33
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$51.33
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 56 min ago; GMX: no order-book sample. Net counts fees only.

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 Bitget live order book, 56 min ago	6.32 bp	24.8 bp −$25	332.5 bp −$3,325	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MEW on 12 exchanges

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]short	L 0.0000% / S 0.0000%	1h	0.0004740	−0.063%	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.048%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004745	+0.042%	$1.3M	$3.6M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004740	−0.063%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004740	−0.063%	$565K	$970K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004739	−0.084%	$137K	$113K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004745	+0.042%	$353K	$176K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004745	+0.042%	$375K	$120K	30x	as long as short
Bitget MEWUSDTlong	+0.0100%	4h	0.0004743	long leg	$482K	$555K	50x
BingX MEW-USDT	+0.0100%	4h	0.0004739	−0.084%	—	$9.5M	—	as long as short

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004742	−0.015%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0892%	1h	0.0004745	+0.044%	$100K	$135K	10x	as long as short