Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.013%

Price spread now: BingX against Extended+0.037%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1821.822% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.283%+$28 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.037%, 7d avg −0.001%

Together, before fees+0.323%+ Points / potential airdropExtended: Active · farm board+$32 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 0.038% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BILL-USD	0.01386	0.0320	pay 0.0040% / 1h	41m 02s	$3K	$247K	5x
Short	BingX BILL-USDT	0.01387	0.0322	get 0.0161% / 4h	3h 41m	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0.42
Price spread: +0.037% → −0.001%: $3.83
Slippage, 4 orders: −$167.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$177.94
Costs to cover: 1.822%
Break-even: 2972.6 days

Slippage from Extended: live order book, 31 min ago; BingX: live order book, 2 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 Extended live order book, 31 min ago	4.71 bp	59.4 bp −$59	482.3 bp −$4,823	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	10.81 bp	30.6 bp −$31	96.3 bp −$963	930.2 bp −$93.0K	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
Aster BILLUSDT	+0.0100%	4h	0.01386	−0.034%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01385	−0.107%	$1.3M	$937K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01386	−0.035%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01387	+0.037%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01385	−0.107%	$630K	$847K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01388	+0.109%	$2K	$1.1M	20x	as long as short
BloFin BILL-USDT	+0.0114%	4h	0.01386	−0.035%	$144K	$19K	20x	as long as short
Backpack BILL_USDC_PERP	+0.0192%	1h	0.01385	−0.107%	$21K	$926	5x	as long as short
Binance BILLUSDT	+0.0317%	4h	0.01386	−0.035%	$2.5M	$3.6M	20x	as long as short
MEXC BILL_USDT	+0.0318%	4h	0.01385	−0.107%	$1.0M	$320K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USDlong	+0.0320%	1h	0.01386	long leg	$3K	$247K	5x
BingX BILL-USDTshort	+0.0322%	4h	0.01387	+0.037%	—	$1.7M	—
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	−0.042%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0854%	4h	0.01390	+0.253%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0976%	4h	0.01388	+0.080%	$446K	$280K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2135%	1h	0.01387	+0.051%	$108K	$14K	10x	as long as short