Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against BingX−0.041%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

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

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.067%+$7 · spread now −0.041%, 7d avg +0.055%

Together, before fees+0.067%+$7 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 0.096% cheaper against BingX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08175	0.0100	pay 0.0050% / 4h	2h 42m	—	$6.6M	—
Short	Binance INITUSDT	0.08172	0.0100	get 0.0050% / 4h	2h 42m	$3.4M	$3.6M	25x

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 −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.055%: −$9.6
Slippage, 4 orders: −$88.03
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$117.62
Costs to cover: 1.080%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Binance: live order book, 9 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, 10 min ago	4.28 bp	29.0 bp −$29	87.8 bp −$878	551.5 bp −$55.2K	768.1 bp −$384.1K
Sell Binance live order book, 9 min ago	3.06 bp	28.7 bp −$29	83.2 bp −$832	doesn't fit	doesn't fit

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	0.08167	−0.094%	$296K	$235K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08169	−0.070%	$27K	$36K	5x	as long as short
Binance INITUSDTshort	+0.0100%	4h	0.08172	−0.041%	$3.4M	$3.6M	25x
Bybit INITUSDT	+0.0100%	4h	0.08169	−0.073%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08191	+0.196%	$132K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08168	−0.086%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08171	−0.049%	$444K	$215K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08181	+0.073%	$325K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08170	−0.061%	$427K	$311K	25x	as long as short
BingX INIT-USDTlong	+0.0100%	4h	0.08175	long leg	—	$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	0.08175	−0.006%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0137%	4h	0.08178	+0.037%	$155K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08171	−0.043%	$6K	$17K	10x	as long as short