Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0645%/8h= +70.7% APRpaid last 24h +0.062%

Price spread now: Kraken Futures against KuCoin−0.148%7-day average +0.170% · you buy dearer than you sell

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

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.269%−$27 on $10k

Price spread, last 4 days (all we have)+0.371%+$37 · spread now −0.148%, 7d avg +0.170%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.318% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.148% now, against its 7-day average of +0.170%). If the spread goes back, that is −$32 on $10k: about 39 hours of funding at the current rate (+$19 a day). Mind the row above: over the last 7 days funding on this pair cost −0.269%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.269% in total (about -14.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MEWUSDTM	0.0004766	0.0100	pay 0.0050% / 4h	31m 53s	$336K	$118K	30x
Short	Kraken Futures PF_MEWUSD	0.0004759	0.0745	get 0.0093% / 1h	31m 53s	$97K	$140K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.148%Rate

Funding earned: $135.51
Price spread: −0.148% → +0.170%: −$31.81
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $81.69
Costs to cover: 0.220%
Break-even: 2.8 days

Slippage unknown: KuCoin: live order book, 1 min ago; Kraken Futures: live order book, 5 min ago. 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, 1 min ago	23.08 bp	282.1 bp −$282	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	30.40 bp	doesn't fit	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	0.0004740	−0.546%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−11.477%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004755	−0.225%	$1.3M	$3.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004751	−0.315%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004755	−0.231%	$551K	$941K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004744	−0.462%	$138K	$147K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004756	−0.210%	$381K	$181K	125x	as long as short
KuCoin MEWUSDTMlong	+0.0100%	4h	0.0004766	long leg	$336K	$118K	30x
Bitget MEWUSDT	+0.0100%	4h	0.0004753	−0.273%	$491K	$551K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004755	−0.231%	—	$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	0.0004750	−0.334%	$84K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0745%	1h	0.0004759	−0.148%	$97K	$140K	10x