Funding arb · Price arb /

2Z

all 2Z markets

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 +0.003%

Price spread now: BingX against Bybit−0.095%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.529%+$53 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.095%, 7d avg −0.050%

Together, before fees+0.634%+$63 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: BingX is 0.046% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 2ZUSDT	0.05239	0.0100	pay 0.0050% / 4h	29m 24s	$691K	$977K	50x
Short	BingX 2Z-USDT	0.05234	0.0100	get 0.0050% / 4h	29m 24s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now −0.095%Rate

Funding earned: $0
Price spread: −0.095% → −0.050%: −$4.56
Slippage, 4 orders: −$93.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.86
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from Bybit: live order book, 11 min ago; BingX: live order book, 6 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 Bybit live order book, 11 min ago	4.80 bp	26.2 bp −$26	1636.5 bp −$16.4K	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	6.74 bp	27.6 bp −$28	88.1 bp −$881	699.2 bp −$69.9K	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	−0.0695%	1h	0.05225	−0.267%	$45K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.944%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05239	0.000%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05239	−0.008%	$677K	$366K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05234	−0.092%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05232	−0.128%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05235	−0.076%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDTlong	+0.0100%	4h	0.05239	long leg	$691K	$977K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05238	−0.019%	$450K	$723K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05231	−0.153%	$91K	$65K	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	0.05238	−0.019%	$293K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05231	−0.157%	$193K	$53K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05233	−0.115%	$162K	$626K	50x	as long as short
BingX 2Z-USDTshort	+0.0100%	4h	0.05234	−0.095%	—	$6.5M	—
Variational Omni 2Z	+0.0100%	4h	0.05225	−0.266%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05228	−0.210%	$2K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0799%	1h	0.05231	−0.151%	$5K	$3K	10x	as long as short