Funding arb · Price arb /

CROSS

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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 0.000%

Price spread now: BingX against Bybit−0.047%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$399as in the Funding arb table

Net, price: spread back to 7d avg − costs−$415as in the Price arb table

costs, in and out, $10k−$4104.101% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 7 days+0.178%+$18 · spread now −0.047%, 7d avg 0.000%

Together, before fees+0.290%+$29 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 0.047% 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 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CROSSUSDT	0.1496	0.0100	pay 0.0050% / 4h	2h 54m	$681K	$663K	20x
Short	BingX CROSS-USDT	0.1495	0.0100	get 0.0050% / 4h	2h 54m	—	$1.3M	—

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 −0.047%Rate

Funding earned: $0
Price spread: −0.047% → 0.000%: −$4.72
Slippage, 4 orders: −$389.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$414.85
Costs to cover: 4.101%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 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, 10 min ago	3.66 bp	144.2 bp −$144	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	7.33 bp	69.6 bp −$70	169.2 bp −$1,692	1118.5 bp −$111.8K	doesn't fit

CROSS on 8 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
Binance CROSSUSDT	+0.0100%	4h	0.1497	+0.081%	$1.5M	$3.1M	40x	as long as short
Bybit CROSSUSDTlong	+0.0100%	4h	0.1496	long leg	$681K	$663K	20x
Gate CROSS_USDT	+0.0100%	4h	0.1497	+0.080%	$186K	$49K	20x	as long as short
MEXC CROSS_USDT	+0.0100%	4h	0.1497	+0.067%	$320K	$154K	100x	as long as short
KuCoin CROSSUSDTM	+0.0100%	4h	0.1495	−0.087%	$272K	$31K	20x	as long as short
Bitget CROSSUSDT	+0.0100%	4h	0.1495	−0.087%	$1.3M	$207K	20x	as long as short
BingX CROSS-USDTshort	+0.0100%	4h	0.1495	−0.047%	—	$1.3M	—
Variational Omni CROSS	+0.0100%	4h	0.1497	+0.051%	$689	$2K	—	as long as short