Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: GMX against KuCoin+0.188%254s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.188% dearer against KuCoin than usual: you sell high and buy low (spread +0.188% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.3 days. The two prices were read 254 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	KuCoin MEWUSDTM	0.0004791	0.0100	pay 0.0050% / 4h	2h 57m	$383K	$128K	30x
Short	GMX MEW/USD [WBTC.b-USDC]	0.0004800	L 0.0000% / S 0.0000%	get 0.0000% / 1h	57m 07s	—	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.188%Rate

Funding earned: −$21
Price spread: +0.188% → 0.000%: $18.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$26.21
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 26 min ago; GMX: 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 KuCoin live order book, 26 min ago	16.79 bp	216.5 bp −$216	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L 0.0000% / S 0.0000%	1h	0.0004800	+0.188%	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.939%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004792	+0.021%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004790	−0.021%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004792	+0.021%	$562K	$957K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004788	−0.063%	$138K	$138K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004797	+0.125%	$368K	$177K	125x	as long as short
KuCoin MEWUSDTMlong	+0.0100%	4h	0.0004791	long leg	$383K	$128K	30x
Bitget MEWUSDT	+0.0100%	4h	0.0004799	+0.167%	$490K	$560K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004788	−0.063%	—	$6.4M	—	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	0.0004796	+0.107%	$85K	$36K	—	as long as short
Kraken Futures PF_MEWUSD	+0.2253%	1h	0.0004801	+0.205%	$95K	$139K	10x	as long as short