Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance−0.004%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1641.643% of the position

Long on Binance 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+0.016%+$2 · spread now −0.004%, 7d avg −0.057%

Together, before fees+0.016%+$2 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 0.053% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance INITUSDT	0.08292	0.0100	pay 0.0050% / 4h	2h 32m	$3.4M	$4.0M	25x
Short	BingX INIT-USDT	0.08292	0.0100	get 0.0050% / 4h	2h 32m	—	$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 −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.057%: $5.31
Slippage, 4 orders: −$144.35
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$159.04
Costs to cover: 1.643%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; BingX: 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 Binance live order book, 4 min ago	4.83 bp	38.5 bp −$39	168.6 bp −$1,686	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	7.25 bp	44.0 bp −$44	98.2 bp −$982	552.5 bp −$55.3K	814.5 bp −$407.2K

INIT on 13 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 INIT	+0.0100%	1h	0.08294	+0.025%	$309K	$237K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08299	+0.080%	$27K	$39K	5x	as long as short
Binance INITUSDTlong	+0.0100%	4h	0.08292	long leg	$3.4M	$4.0M	25x
Bybit INITUSDT	+0.0100%	4h	0.08283	−0.113%	$1.4M	$1.7M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08298	+0.068%	$139K	$742K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08286	−0.076%	$81K	$46K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08298	+0.068%	$442K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08300	+0.092%	$323K	$63K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08288	−0.052%	$426K	$346K	25x	as long as short
BingX INIT-USDTshort	+0.0100%	4h	0.08292	−0.004%	—	$6.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08264	−0.339%	$26K	$14K	—	as long as short
Kraken Futures PF_INITUSD	+0.0113%	1h	0.08299	+0.084%	$5K	$24K	10x	as long as short
BloFin INIT-USDT	+0.0121%	4h	0.08282	−0.125%	$152K	$109K	25x	as long as short