Funding arb · Price arb /

GAS

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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: Bybit against BingX+0.007%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1081.080% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.007%, 7d avg +0.062%

Together, before fees+0.033%+$3 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: Bybit is 0.055% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX GAS-USDT	1.4080	0.0100	pay 0.0050% / 4h	2h 31m	—	$2.3M	—
Short	Bybit GASUSDT	1.4081	0.0100	get 0.0050% / 4h	2h 31m	$841K	$309K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.062%: −$5.46
Slippage, 4 orders: −$86.96
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$113.41
Costs to cover: 1.080%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Bybit: live order book, 33 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	7.12 bp	19.9 bp −$20	57.4 bp −$574	422.2 bp −$42.2K	478.5 bp −$239.2K
Sell Bybit live order book, 33 min ago	1.76 bp	30.0 bp −$30	232.4 bp −$2,324	doesn't fit	doesn't fit

GAS 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
Hyperliquid GAS	+0.0100%	1h	1.4081	+0.007%	$106K	$60K	3x	as long as short
Binance GASUSDT	+0.0100%	4h	1.4070	−0.071%	$1.5M	$1.7M	50x	as long as short
Bybit GASUSDTshort	+0.0100%	4h	1.4081	+0.007%	$841K	$309K	25x
OKX GAS-USDT-SWAP	+0.0100%	4h	1.4056	−0.170%	$383K	$277K	20x	as long as short
Gate GAS_USDT	+0.0100%	4h	1.4080	0.000%	$110K	$71K	25x	as long as short
MEXC GAS_USDT	+0.0100%	4h	1.4070	−0.071%	$878K	$134K	50x	as long as short
KuCoin GASUSDTM	+0.0100%	4h	1.4052	−0.199%	$183K	$15K	30x	as long as short
Bitget GASUSDT	+0.0100%	4h	1.4070	−0.071%	$395K	$298K	50x	as long as short
BingX GAS-USDTlong	+0.0100%	4h	1.4080	long leg	—	$2.3M	—
Variational Omni GAS	+0.0100%	4h	1.4104	+0.169%	$5K	$2	—	as long as short