Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: MEXC against OKX+0.109%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$870.873% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days−0.108%−$11 · spread now +0.109%, 7d avg +0.025%

Together, before fees−0.057%−$6 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 0.084% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01187	0.0100	pay 0.0050% / 4h	3h 03m	$1.3M	$2.0M	20x
Short	MEXC W_USDT	0.01189	0.0100	get 0.0050% / 4h	3h 03m	$12.9M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0
Price spread: +0.109% → +0.025%: $8.44
Slippage, 4 orders: −$73.32
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$78.87
Costs to cover: 0.873%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; MEXC: live order book, 5 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 OKX live order book, 3 min ago	3.35 bp	29.3 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.84 bp	10.7 bp −$11	58.9 bp −$589	93.6 bp −$9,359	184.7 bp −$92.4K

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	−0.0420%	1h	0.01193	+0.497%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.828%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01189	+0.143%	$2.0M	$405K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	−0.008%	$3.0M	$6.7M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01186	−0.093%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01187	long leg	$1.3M	$2.0M	20x
Gate W_USDT	+0.0100%	4h	0.01187	−0.042%	$448K	$284K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01189	+0.109%	$12.9M	$1.5M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01191	+0.312%	$452K	$219K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01189	+0.143%	$1.3M	$569K	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	0.01187	−0.042%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01191	+0.280%	$72K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01193	+0.513%	$132K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	+0.011%	$60K	$240K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0280%	1h	0.01197	+0.825%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.1309%	1h	0.01194	+0.590%	$45K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1315%	1h	0.01196	+0.716%	$148K	$181K	20x	as long as short