Funding arb · Price arb /

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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: Gate against MEXC−0.120%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$693as in the Funding arb table

Net, price: spread back to 7d avg − costs−$698as in the Price arb table

costs, in and out, $10k−$6956.947% of the position

Long on MEXC Short on Gate

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)+0.177%+$18 · spread now −0.120%, 7d avg −0.085%

Together, before fees+0.191%+$19 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: Gate is 0.034% cheaper against MEXC than usual: you would sell low and buy high, −$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	MEXC W_USDT	0.01171	0.0100	pay 0.0050% / 4h	2h 10m	$12.8M	$1.8M	50x
Short	Gate W_USDT	0.01170	0.0100	get 0.0050% / 4h	2h 10m	$444K	$301K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → −0.085%: −$3.42
Slippage, 4 orders: −$675.67
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$698.08
Costs to cover: 6.947%
Break-even: never at this rate

Slippage from MEXC: live order book, 8 min ago; Gate: live order book, 10 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, 8 min ago	2.98 bp	12.2 bp −$12	55.3 bp −$553	82.7 bp −$8,267	129.6 bp −$64.8K
Sell Gate live order book, 10 min ago	8.94 bp	397.7 bp −$398	doesn't fit	doesn't fit	doesn't fit

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	−0.0858%	1h	0.01172	+0.026%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0004%	4h	0.01171	−0.068%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.210%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01172	+0.051%	$2.0M	$455K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01171	−0.003%	$2.9M	$7.1M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01170	−0.120%	$4.1M	$2.0M	50x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01170	−0.120%	$444K	$301K	75x
MEXC W_USDTlong	+0.0100%	4h	0.01171	long leg	$12.8M	$1.8M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01171	−0.034%	$415K	$217K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01174	+0.222%	$1.3M	$587K	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	0.01171	−0.060%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01173	+0.111%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01173	+0.145%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	+0.081%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	−0.045%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01178	+0.563%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0620%	1h	0.01174	+0.216%	$145K	$185K	20x	as long as short