Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Gate+0.119%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$690as in the Funding arb table

Net, price: spread back to 7d avg − costs−$685as in the Price arb table

costs, in and out, $10k−$6896.885% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.119%, 7d avg +0.085%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.034% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01176	0.0100	pay 0.0050% / 4h	1h 20m	$443K	$293K	75x
Short	MEXC W_USDT	0.01178	0.0100	get 0.0050% / 4h	1h 20m	$12.8M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → +0.085%: $3.39
Slippage, 4 orders: −$669.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$685.14
Costs to cover: 6.885%
Break-even: never at this rate

Slippage from Gate: live order book, 60 min ago; MEXC: 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 Gate live order book, 60 min ago	8.94 bp	275.2 bp −$275	29633.8 bp −$296.3K	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.28 bp	6.5 bp −$7	52.7 bp −$527	89.8 bp −$8,979	176.5 bp −$88.2K

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0767%	1h	0.01178	+0.187%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0083%	4h	0.01177	+0.085%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.797%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.247%	$2.0M	$427K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01177	+0.094%	$3.0M	$7.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01176	+0.017%	$4.1M	$2.0M	50x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01176	long leg	$443K	$293K	75x
MEXC W_USDTshort	+0.0100%	4h	0.01178	+0.119%	$12.8M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01179	+0.247%	$479K	$246K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01178	+0.162%	$1.3M	$578K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01177	+0.077%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01175	−0.115%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	+0.078%	$129K	$385K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01177	+0.118%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01179	+0.247%	$14K	$17K	50x	as long as short
Backpack W_USDC_PERP	+0.0334%	1h	0.01179	+0.289%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.0396%	1h	0.01181	+0.419%	$146K	$182K	20x	as long as short