Funding arb · Price arb /

DRIFT

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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: Binance against BingX+0.013%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1341.345% of the position

Long on BingX Short on Binance

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+0.120%+$12 · spread now +0.013%, 7d avg +0.078%

Together, before fees+0.118%+$12 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: Binance is 0.065% cheaper against BingX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX DRIFT-USDT	0.01764	0.0100	pay 0.0050% / 4h	1h 20m	—	$6.6M	—
Short	Binance DRIFTUSDT	0.01764	0.0100	get 0.0050% / 4h	1h 20m	$2.4M	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → +0.078%: −$6.46
Slippage, 4 orders: −$114.47
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$140.93
Costs to cover: 1.345%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Binance: live order book, 4 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 BingX live order book, 7 min ago	5.71 bp	40.6 bp −$41	364.0 bp −$3,640	714.8 bp −$71.5K	doesn't fit
Sell Binance live order book, 4 min ago	2.85 bp	25.0 bp −$25	239.4 bp −$2,394	doesn't fit	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	−9.807%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0055%	4h	0.01760	−0.227%	$155K	$10K	20x	as long as short
Binance DRIFTUSDTshort	+0.0100%	4h	0.01764	+0.013%	$2.4M	$6.6M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01761	−0.170%	$2.4M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01762	−0.113%	$124K	$235K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01765	+0.057%	$418K	$168K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01760	−0.227%	$692K	$118K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01764	0.000%	$543K	$359K	10x	as long as short
BingX DRIFT-USDTlong	+0.0100%	4h	0.01764	long leg	—	$6.6M	—
Variational Omni DRIFT	+0.0100%	4h	0.01760	−0.245%	$24K	$6K	—	as long as short