Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0456%/8h= +49.9% APRpaid last 24h +0.112%

Price spread now: BingX against Coinbase International−0.060%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.060%, 7d avg −0.124%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BingX is 0.064% dearer against Coinbase International than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.124%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.278% in total (about 14.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FIL-PERP-INTX	0.9929	−0.0376	get 0.0047% / 1h	12m 03s	$319K	$1.9M	50x
Short	BingX FIL-USDT	0.9923	0.0080	get 0.0080% / 8h	1h 12m	—	$11.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $95.76
Price spread: −0.060% → −0.124%: $6.38
Slippage, 4 orders: −$21.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $61.13
Costs to cover: 0.410%
Break-even: 2.5 days

Slippage from Coinbase International: live order book, 2 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 Coinbase International live order book, 2 min ago	6.55 bp	13.8 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	1.01 bp	6.5 bp −$7	9.2 bp −$92	21.3 bp −$2,126	45.0 bp −$22.5K

FIL on 29 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
Kraken Futures PF_FILUSD	−0.0691%	1h	0.9934	+0.053%	$1.3M	$2.3M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0655%	1h	0.9941	+0.121%	$171K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTXlong	−0.0376%	1h	0.9929	long leg	$319K	$1.9M	50x
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.745%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9939	+0.102%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9939	+0.101%	$58K	$2K	10x	as long as short
Bitget FILUSDT	+0.0007%	8h	0.9921	−0.081%	$10.8M	$21.6M	75x	as long as short
KuCoin FILUSDTM	+0.0012%	8h	0.9932	+0.030%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0033%	8h	0.9925	−0.040%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0039%	8h	0.9924	−0.050%	$18.2M	$98.3M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0076%	8h	0.9928	−0.010%	$252K	$105K	50x	as long as short
Binance FILUSDT	+0.0078%	8h	0.9924	−0.050%	$57.4M	$176.3M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9931	+0.021%	$692K	$2.3M	10x	as long as short
BingX FIL-USDTshort	+0.0080%	8h	0.9923	−0.060%	—	$11.9M	—
Lighter FIL	+0.0096%	1h	0.9928	−0.015%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9922	−0.065%	$8.7M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9930	+0.010%	$499K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9923	−0.060%	$7.9M	$16.3M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9909	−0.199%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9901	−0.282%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9902	−0.273%	$288K	$790K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9900	−0.292%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9944	+0.148%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9930	+0.010%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9933	+0.040%	$489	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9933	+0.040%	$628K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9920	−0.091%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0198%	8h	0.9919	−0.101%	$2.7M	$659K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0601% / S −0.0709%	1h	0.9938	+0.087%	$208K	—	100x	as long as short