Funding arb · Price arb /

DRIFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget+0.056%7-day average −0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$507as in the Funding arb table

Net, price: spread back to 7d avg − costs−$489as in the Price arb table

costs, in and out, $10k−$5075.071% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.146%−$15 · spread now +0.056%, 7d avg −0.124%

Together, before fees−0.146%−$15 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 0.180% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget DRIFTUSDT	0.01780	0.0100	pay 0.0050% / 4h	3h 23m	$546K	$373K	10x
Short	BingX DRIFT-USDT	0.01781	0.0100	get 0.0050% / 4h	3h 23m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.124%: $18.01
Slippage, 4 orders: −$485.15
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$489.14
Costs to cover: 5.071%
Break-even: never at this rate

Slippage from Bitget: live order book, 7 min ago; BingX: live order book, 13 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 Bitget live order book, 7 min ago	11.32 bp	205.1 bp −$205	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	8.43 bp	44.4 bp −$44	195.4 bp −$1,954	740.9 bp −$74.1K	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	−10.618%	—	$9K	5.5x	as long as short
KuCoin DRIFTUSDTM	+0.0080%	4h	0.01773	−0.393%	$724K	$136K	20x	as long as short
BloFin DRIFT-USDT	+0.0099%	4h	0.01775	−0.281%	$160K	$18K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01783	+0.169%	$2.5M	$6.3M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01778	−0.112%	$2.3M	$2.6M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01777	−0.169%	$116K	$234K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01779	−0.056%	$421K	$164K	20x	as long as short
Bitget DRIFTUSDTlong	+0.0100%	4h	0.01780	long leg	$546K	$373K	10x
BingX DRIFT-USDTshort	+0.0100%	4h	0.01781	+0.056%	—	$6.6M	—
Variational Omni DRIFT	+0.0100%	4h	0.01765	−0.834%	$24K	$4K	—	as long as short