BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.57 per $10,000 · paid last 24h −0.020%

Price spread now: BingX against Bybit−0.005%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.005%, 7d avg −0.041%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.035% dearer against Bybit than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.041%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.016% in total) that is about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BTCUSDT	86,468	0.0099	pay 0.0099% / 8h	30m 49s	$5.26B	$9.81B	150x
Short	BingX BTC-USDC	86,463.4	0.0042	get 0.0042% / 8h	30m 49s	—	$15.4M	—

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 −0.005%Rate

Funding earned: −$11.94
Price spread: −0.005% → −0.041%: $3.52
Slippage, 4 orders: −$0.05
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$29.46
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BingX: live order book, 7 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, 3 min ago	0.01 bp	5.5 bp −$6	6.2 bp −$62	7.3 bp −$732	8.8 bp −$4,400
Sell BingX live order book, 7 min ago	0.02 bp	5.0 bp −$5	5.4 bp −$54	6.3 bp −$632	7.5 bp −$3,762

BTC on 56 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
Phoenix BTC	−0.0118%	1h	86,471	+0.003%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,467	−0.001%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.116%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,490.9	+0.026%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,491.8	+0.028%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,466.7	−0.002%	$501.8M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,501.9	+0.039%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0016%	8h	86,472	+0.005%	$850.4M	$715.4M	125x	as long as short
Reya BTCRUSDPERP	+0.0030%	1h	86,486.2	+0.021%	$6.7M	$145.5M	40x	as long as short
BingX BTC-USDCshort	+0.0042%	8h	86,463.4	−0.005%	—	$15.4M	—

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0045%	1h	86,514.6	+0.054%	$915.1M	$1.48B	50x	as long as short
Phemex BTCUSDT	+0.0049%	8h	86,482.7	+0.017%	$150.7M	$478.6M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,460.9	−0.008%	$2.96B	$5.13B	150x	as long as short
dYdX BTC-USD	+0.0063%	1h	86,493.3	+0.029%	$16.9M	$21.1M	50x	as long as short
MEXC BTC_USDT	+0.0070%	8h	86,469	+0.001%	$5.16B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0070%	8h	86,463.5	−0.005%	$9.43B	$24.57B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,464.8	−0.004%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,469.2	+0.001%	$5.87B	$10.76B	200x	as long as short
SoDEX BTC-USD	+0.0090%	1h	86,469	+0.001%	$60.4M	$337.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,477.5	+0.011%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,483.3	+0.018%	$24.1M	$152.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,483	+0.017%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDTlong	+0.0099%	8h	86,468	long leg	$5.26B	$9.81B	150x
Katana Perps BTC-USD	+0.0100%	8h	86,458	−0.012%	$198K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,502.4	+0.040%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,465.1	−0.003%	$21.9M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,544	+0.088%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,507.6	+0.046%	$40.8M	$527.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,472.7	+0.005%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,490	+0.025%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,518.5	+0.058%	$7.6M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,467.9	0.000%	$38.2M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,474.8	+0.008%	$157.5M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,477.1	+0.011%	$279.3M	$947.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,492.7	+0.029%	$217.2M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,488.9	+0.024%	$141.4M	$323.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,474.4	+0.007%	$30.7M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,521.1	+0.061%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,480	+0.014%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,484.7	+0.019%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,475.5	+0.009%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,508.7	+0.047%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,508.9	+0.047%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,482.8	+0.017%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,462.9	−0.006%	$2.29B	$969.6M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,562.5	+0.109%	$572.7M	$17.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,450.6	−0.020%	$45.4M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,492.4	+0.028%	—	$98.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,503.1	+0.041%	$194.0M	$952.2M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,485.1	+0.020%	$416K	$23.1M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,517	+0.057%	$132.3M	$5.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0139%	1h	86,535.8	+0.078%	$79K	$218K	20x	as long as short
BloFin BTC-USDT	+0.0191%	8h	86,467.5	−0.001%	$415.6M	$658.4M	150x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	86,519.9	+0.060%	$728K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0195% / S −0.0217%	1h	86,495.6	+0.032%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,507	+0.045%	$9.7M	$745.7M	6.4x	as long as short