Funding arb · Price arb /

DRIFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance+0.106%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1621.618% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days−0.268%−$27 · spread now +0.106%, 7d avg −0.080%

Together, before fees−0.266%−$27 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 0.187% dearer against Binance than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance DRIFTUSDT	0.01722	0.0100	pay 0.0050% / 4h	35m 02s	$2.3M	$6.8M	20x
Short	BingX DRIFT-USDT	0.01724	0.0100	get 0.0050% / 4h	35m 02s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now +0.106%Rate

Funding earned: $0
Price spread: +0.106% → −0.080%: $18.67
Slippage, 4 orders: −$141.76
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$143.09
Costs to cover: 1.618%
Break-even: never at this rate

Slippage from Binance: live order book, 4 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 Binance live order book, 4 min ago	2.89 bp	38.6 bp −$39	517.9 bp −$5,179	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	11.59 bp	41.1 bp −$41	175.6 bp −$1,756	743.2 bp −$74.3K	doesn't fit

DRIFT on 10 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
Injective DRIFT/USDC PERP	+0.0033%	1h	0.01591	−7.616%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0049%	4h	0.01721	−0.068%	$152K	$9K	20x	as long as short
Binance DRIFTUSDTlong	+0.0100%	4h	0.01722	long leg	$2.3M	$6.8M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01719	−0.190%	$2.3M	$2.9M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01720	−0.126%	$129K	$237K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01719	−0.184%	$410K	$179K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01719	−0.184%	$681K	$130K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01721	−0.068%	$532K	$357K	10x	as long as short
BingX DRIFT-USDTshort	+0.0100%	4h	0.01724	+0.106%	—	$6.6M	—
Variational Omni DRIFT	+0.0100%	4h	0.01722	+0.008%	$23K	$6K	—	as long as short