Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0694%/8h= +76.0% APRpaid last 24h +0.053%

Price spread now: Kraken Futures against MEXC+0.162%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,142as in the Price arb table

costs, in and out, $10k−$1,14811.476% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.341%−$34 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now +0.162%, 7d avg +0.110%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.052% dearer against MEXC than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.110%. Mind the row above: over the last 7 days funding on this pair cost −0.341%, 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 -0.341% in total (about -17.8% 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	MEXC MEW_USDT	0.0004714	0.0100	pay 0.0050% / 4h	1h 39m	$374K	$186K	125x
Short	Kraken Futures PF_MEWUSD	0.0004722	0.0794	get 0.0099% / 1h	39m 22s	$92K	$134K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.162%Rate

Funding earned: $145.79
Price spread: +0.162% → +0.110%: $5.2
Slippage, 4 orders: −$1,133.59
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$996.6
Costs to cover: 11.476%
Break-even: 54.9 days

Slippage from MEXC: live order book, 51 min ago; Kraken Futures: live order book, 3 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 MEXC live order book, 51 min ago	1.08 bp	9.5 bp −$10	43.8 bp −$438	189.3 bp −$18.9K	doesn't fit
Sell Kraken Futures live order book, 3 min ago	11.64 bp	57.2 bp −$57	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	0.0004710	−0.085%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.501%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004715	+0.025%	$1.3M	$3.5M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004711	−0.064%	$1.5M	$1.5M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004712	−0.042%	$542K	$906K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004710	−0.085%	$138K	$142K	50x	as long as short
MEXC MEW_USDTlong	+0.0100%	4h	0.0004714	long leg	$374K	$186K	125x
KuCoin MEWUSDTM	+0.0100%	4h	0.0004713	−0.021%	$328K	$132K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004714	0.000%	$481K	$540K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004714	0.000%	—	$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	0.0004716	+0.036%	$83K	$36K	—	as long as short
Kraken Futures PF_MEWUSDshort	+0.0794%	1h	0.0004722	+0.162%	$92K	$134K	10x