Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Variational Omni against GMX+0.186%50s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.186% dearer against GMX than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEW/USD [WBTC.b-USDC]	0.0004670	L 0.0000% / S 0.0000%	get 0.0000% / 1h	14m 34s	—	—	100x
Short	Variational Omni MEW	0.0004679	0.0100	get 0.0050% / 4h	14m 34s	$82K	$32K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now +0.186%Rate

Funding earned: $21
Price spread: +0.186% → 0.000%: $18.59
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $27.59
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

GMX and Variational Omni: 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 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]long	L 0.0000% / S 0.0000%	1h	0.0004670	long leg	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.657%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004683	+0.278%	$1.2M	$3.0M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004679	+0.193%	$1.4M	$1.3M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004677	+0.150%	$529K	$791K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004678	+0.171%	$136K	$121K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004683	+0.278%	$387K	$176K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004681	+0.236%	$328K	$122K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004683	+0.278%	$489K	$373K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004682	+0.257%	—	$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 MEWshort	+0.0100%	4h	0.0004679	+0.186%	$82K	$32K	—
Kraken Futures PF_MEWUSD	+0.0955%	1h	0.0004684	+0.295%	$91K	$112K	10x	as long as short