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: Bitget against BingX−0.048%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$196as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$1961.964% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.048%, 7d avg +0.012%

Together, before fees+0.095%+$9 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: Bitget is 0.060% cheaper against BingX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08292	0.0100	pay 0.0050% / 4h	2h 32m	—	$6.6M	—
Short	Bitget INITUSDT	0.08288	0.0100	get 0.0050% / 4h	2h 32m	$426K	$346K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.012%: −$6.03
Slippage, 4 orders: −$174.43
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$202.47
Costs to cover: 1.964%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Bitget: live order book, 8 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, 4 min ago	7.25 bp	42.6 bp −$43	129.2 bp −$1,292	628.4 bp −$62.8K	852.1 bp −$426.1K
Sell Bitget live order book, 8 min ago	9.70 bp	49.4 bp −$49	275.4 bp −$2,754	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	0.08294	+0.029%	$309K	$237K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08299	+0.084%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08292	+0.004%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08283	−0.109%	$1.4M	$1.7M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08298	+0.072%	$139K	$742K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08286	−0.072%	$81K	$46K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08298	+0.072%	$442K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08300	+0.096%	$323K	$63K	25x	as long as short
Bitget INITUSDTshort	+0.0100%	4h	0.08288	−0.048%	$426K	$346K	25x
BingX INIT-USDTlong	+0.0100%	4h	0.08292	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	0.08264	−0.335%	$26K	$14K	—	as long as short
Kraken Futures PF_INITUSD	+0.0113%	1h	0.08299	+0.088%	$5K	$24K	10x	as long as short
BloFin INIT-USDT	+0.0121%	4h	0.08282	−0.121%	$152K	$109K	25x	as long as short