Funding arb · Price arb /

CAP

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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 −0.120%

Price spread now: BingX against Orderly−0.140%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.140% cheaper against Orderly than usual: you would sell low and buy high, −$14 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CAP_USDC_mythos	0.04636	0.0100	pay 0.0050% / 4h	1h 19m	$4K	$1K	10x
Short	BingX CAP-USDT	0.04629	0.0100	get 0.0050% / 4h	1h 19m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Orderly. 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 OrderlybpFee BingXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → 0.000%: −$14.02
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; BingX: live order book, 2 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	5.40 bp	29.7 bp −$30	91.1 bp −$911	738.5 bp −$73.9K	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CAP on 14 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
KuCoin CAPUSDTM	−0.0490%	4h	0.04632	−0.076%	$4.4M	$1.4M	10x	as long as short
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04635	−0.013%	—	—	150x	as long as short
OKX CAP-USDT-SWAP	+0.0058%	4h	0.04633	−0.054%	$2.1M	$7.3M	10x	as long as short
Lighter CAP	+0.0096%	1h	0.04632	−0.067%	$19K	$2K	3x	as long as short
Aster CAPUSDT	+0.0100%	4h	0.04630	−0.116%	$26K	$66K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04633	−0.063%	$8.9M	$9.0M	10x	as long as short
Bybit CAPUSDT	+0.0100%	4h	0.04630	−0.119%	$4.5M	$4.2M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04633	−0.054%	$326K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04631	−0.097%	$547K	$233K	20x	as long as short
Bitget CAPUSDT	+0.0100%	4h	0.04630	−0.119%	$1.0M	$594K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAP-USDTshort	+0.0100%	4h	0.04629	−0.140%	—	$1.6M	—
Variational Omni CAP	+0.0100%	4h	0.04636	+0.014%	$8K	$8K	—	as long as short
Orderly PERP_CAP_USDC_mythoslong	+0.0100%	4h	0.04636	long leg	$4K	$1K	10x
BloFin CAP-USDT	+0.0115%	4h	0.04630	−0.119%	$376K	$61K	10x	as long as short