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 Bybit−0.084%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.084%, 7d avg +0.009%

Together, before fees+0.047%+$5 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 0.094% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEWUSDT	0.0004752	0.0100	pay 0.0050% / 4h	1h 17m	$1.5M	$1.6M	25x
Short	OKX MEW-USDT-SWAP	0.0004748	0.0100	get 0.0050% / 4h	1h 17m	$547K	$916K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → +0.009%: −$9.37
Slippage, 4 orders: −$112.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$142.63
Costs to cover: 1.333%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 23 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, 3 min ago	4.21 bp	31.3 bp −$31	78.1 bp −$781	doesn't fit	doesn't fit
Sell OKX live order book, 23 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	−0.042%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.216%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004755	+0.074%	$1.3M	$3.6M	50x	as long as short
Bybit MEWUSDTlong	+0.0100%	4h	0.0004752	long leg	$1.5M	$1.6M	25x
OKX MEW-USDT-SWAPshort	+0.0100%	4h	0.0004748	−0.084%	$547K	$916K	20x
Gate MEW_USDT	+0.0100%	4h	0.0004751	−0.021%	$139K	$143K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004756	+0.084%	$376K	$187K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004761	+0.189%	$330K	$120K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004761	+0.189%	$486K	$539K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004755	+0.063%	—	$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	+0.088%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0788%	1h	0.0004757	+0.114%	$93K	$135K	10x	as long as short