Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.008%

Price spread now: Extended against BingX+0.117%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1841.841% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 4 days (all we have)−0.276%−$28 · spread now +0.117%, 7d avg 0.000%

Together, before fees−0.550%+ Points / potential airdropExtended: Active · farm board−$55 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: Extended is 0.117% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BILL-USDT	0.01381	0.0292	pay 0.0146% / 4h	30m 26s	—	$1.7M	—
Short	Extended BILL-USD	0.01383	0.0288	get 0.0036% / 1h	30m 26s	$2K	$220K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$0.84
Price spread: +0.117% → 0.000%: $11.66
Slippage, 4 orders: −$169.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$173.3
Costs to cover: 1.841%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Extended: live order book, 26 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, 2 min ago	7.24 bp	35.3 bp −$35	117.9 bp −$1,179	doesn't fit	doesn't fit
Sell Extended live order book, 26 min ago	4.77 bp	72.3 bp −$72	doesn't fit	doesn't fit	doesn't fit

BILL on 16 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
Bybit BILLUSDT	+0.0100%	4h	0.01381	0.000%	$1.3M	$996K	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01382	+0.072%	$278K	$85K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01381	0.000%	$646K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01379	−0.145%	$21K	$951	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01384	+0.217%	$2K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01364	−1.231%	$11K	$39K	20x	as long as short
BloFin BILL-USDT	+0.0115%	4h	0.01376	−0.362%	$146K	$19K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0131%	4h	0.01382	+0.072%	$1.1M	$2.8M	20x	as long as short
Aster BILLUSDT	+0.0155%	4h	0.01382	+0.068%	$2K	$4K	5x	as long as short
MEXC BILL_USDT	+0.0284%	4h	0.01381	0.000%	$1.1M	$341K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0284%	4h	0.01383	+0.134%	$2.5M	$3.9M	20x	as long as short
Extended BILL-USDshort	+0.0288%	1h	0.01383	+0.117%	$2K	$220K	5x
BingX BILL-USDTlong	+0.0292%	4h	0.01381	long leg	—	$1.7M	—
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01381	+0.036%	$66K	$72K	50x	as long as short
KuCoin BILLUSDTM	+0.1354%	4h	0.01382	+0.080%	$460K	$314K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2069%	1h	0.01383	+0.159%	$108K	$14K	10x	as long as short