Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.046%

Price spread now: Kraken Futures against Gate+0.228%7-day average +0.264% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,589as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,557as in the Price arb table

costs, in and out, $10k−$3,55335.534% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now +0.228%, 7d avg +0.264%

Together, before fees−0.226%−$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.035% cheaper against Gate than usual: you would sell low and buy high (spread +0.228% now, against its 7-day average of +0.264%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.354%, 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	Gate MEW_USDT	0.0004724	0.0100	pay 0.0050% / 4h	2h 06m	$137K	$140K	50x
Short	Kraken Futures PF_MEWUSD	0.0004735	0.0416	get 0.0052% / 1h	6m 53s	$91K	$132K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.228%Rate

Funding earned: $66.34
Price spread: +0.228% → +0.264%: −$3.52
Slippage, 4 orders: −$3,528.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3,490.59
Costs to cover: 35.534%
Break-even: 375.3 days

Slippage from Gate: live order book, 34 min ago; Kraken Futures: live order book, 40 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 Gate live order book, 34 min ago	7.54 bp	147.5 bp −$148	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 40 min ago	11.64 bp	54.8 bp −$55	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	0.0004720	−0.085%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.690%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004725	+0.025%	$1.3M	$3.5M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004722	−0.042%	$1.5M	$1.5M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004720	−0.085%	$543K	$901K	20x	as long as short
Gate MEW_USDTlong	+0.0100%	4h	0.0004724	long leg	$137K	$140K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004726	+0.042%	$369K	$185K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004731	+0.148%	$330K	$131K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004726	+0.042%	$486K	$541K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004726	+0.042%	—	$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	0.0004706	−0.388%	$83K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0416%	1h	0.0004735	+0.228%	$91K	$132K	10x