Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against BingX−0.019%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1131.130% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 7 days−0.048%−$5 · spread now −0.019%, 7d avg −0.059%

Together, before fees−0.072%−$7 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: Binance is 0.040% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 2Z-USDT	0.05173	0.0100	pay 0.0050% / 4h	2h 40m	—	$6.5M	—
Short	Binance 2ZUSDT	0.05172	0.0100	get 0.0050% / 4h	2h 40m	$2.1M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → −0.059%: $3.98
Slippage, 4 orders: −$92.96
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$108.98
Costs to cover: 1.130%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Binance: live order book, 9 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 BingX live order book, 6 min ago	5.75 bp	32.2 bp −$32	98.6 bp −$986	844.5 bp −$84.4K	1133.8 bp −$566.9K
Sell Binance live order book, 9 min ago	1.91 bp	28.3 bp −$28	134.3 bp −$1,343	doesn't fit	doesn't fit

2Z 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
Backpack 2Z_USDC_PERP	−0.0778%	1h	0.05189	+0.309%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.731%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05197	+0.464%	$16K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05173	0.000%	$652K	$352K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05176	+0.049%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05187	+0.273%	$75K	$15K	3x	as long as short
Binance 2ZUSDTshort	+0.0100%	4h	0.05172	−0.019%	$2.1M	$2.0M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05178	+0.097%	$708K	$940K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05175	+0.039%	$442K	$688K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05170	−0.058%	$90K	$60K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05179	+0.116%	$322K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05174	+0.019%	$177K	$50K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05173	0.000%	$144K	$633K	50x	as long as short
BingX 2Z-USDTlong	+0.0100%	4h	0.05173	long leg	—	$6.5M	—
Variational Omni 2Z	+0.0100%	4h	0.05200	+0.516%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05206	+0.638%	$1K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0514%	1h	0.05192	+0.359%	$5K	$3K	10x	as long as short