Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against Bitget+0.361%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4,388as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,310as in the Price arb table

costs, in and out, $10k−$4,33743.374% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.503%−$50 on $10k

Price spread, last 3 days (all we have)−0.145%−$14 · spread now +0.361%, 7d avg +0.091%

Together, before fees−0.648%−$65 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.271% dearer against Bitget than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.091%. Mind the row above: over the last 7 days funding on this pair cost −0.503%, 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	Bitget MEWUSDT	0.0004657	0.0100	pay 0.0050% / 4h	1h 48m	$476K	$349K	50x
Short	Kraken Futures PF_MEWUSD	0.0004674	0.0438	get 0.0055% / 1h	48m 54s	$92K	$132K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.361%Rate

Funding earned: $71.03
Price spread: +0.361% → +0.091%: $27.09
Slippage, 4 orders: −$4,315.37
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,239.25
Costs to cover: 43.374%
Break-even: 424.8 days

Slippage from Bitget: live order book, 27 min ago; Kraken Futures: live order book, 33 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 Bitget live order book, 27 min ago	8.55 bp	28.8 bp −$29	253.9 bp −$2,539	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 33 min ago	48.10 bp	74.7 bp −$75	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	0.0004650	−0.150%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.405%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004659	+0.052%	$1.1M	$2.6M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004658	+0.021%	$1.5M	$1.0M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004654	−0.064%	$523K	$656K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004648	−0.193%	$123K	$75K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004660	+0.064%	$385K	$170K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004662	+0.107%	$354K	$111K	30x	as long as short
Bitget MEWUSDTlong	+0.0100%	4h	0.0004657	long leg	$476K	$349K	50x
BingX MEW-USDT	+0.0100%	4h	0.0004657	0.000%	—	$22.6M	—	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	0.0004656	−0.019%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0438%	1h	0.0004674	+0.361%	$92K	$132K	10x