Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.129%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$259as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$2592.591% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.129%, 7d avg −0.071%

Together, before fees+0.107%+$11 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: Gate is 0.058% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEWUSDT	0.0004644	0.0100	pay 0.0050% / 4h	21m 40s	$1.5M	$1.0M	25x
Short	Gate MEW_USDT	0.0004638	0.0100	get 0.0050% / 4h	21m 40s	$122K	$77K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → −0.071%: −$5.79
Slippage, 4 orders: −$233.07
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$264.86
Costs to cover: 2.591%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 49 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 Bybit live order book, 5 min ago	4.30 bp	26.5 bp −$26	67.9 bp −$679	doesn't fit	doesn't fit
Sell Gate live order book, 49 min ago	6.44 bp	62.0 bp −$62	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	0.0004640	−0.086%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.152%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004646	+0.052%	$1.1M	$2.7M	50x	as long as short
Bybit MEWUSDTlong	+0.0100%	4h	0.0004644	long leg	$1.5M	$1.0M	25x
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004639	−0.108%	$519K	$682K	20x	as long as short
Gate MEW_USDTshort	+0.0100%	4h	0.0004638	−0.129%	$122K	$77K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004646	+0.043%	$385K	$173K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004649	+0.108%	$346K	$113K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004646	+0.043%	$484K	$360K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004643	−0.022%	—	$24.2M	—	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	0.0004654	+0.215%	$82K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.2280%	1h	0.0004653	+0.192%	$92K	$129K	10x	as long as short