Funding arb · Price arb /

INIT

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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: BingX against Bitget−0.085%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1751.747% of the position

Long on Bitget 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 4 days (all we have)+0.111%+$11 · spread now −0.085%, 7d avg −0.013%

Together, before fees+0.111%+$11 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 0.071% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08253	0.0100	pay 0.0050% / 4h	1h 47m	$428K	$312K	25x
Short	BingX INIT-USDT	0.08246	0.0100	get 0.0050% / 4h	1h 47m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.013%: −$7.15
Slippage, 4 orders: −$152.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$181.87
Costs to cover: 1.747%
Break-even: never at this rate

Slippage from Bitget: live order book, 9 min ago; BingX: live order book, 5 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 Bitget live order book, 9 min ago	13.90 bp	57.1 bp −$57	266.0 bp −$2,660	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	4.22 bp	34.1 bp −$34	87.9 bp −$879	478.1 bp −$47.8K	782.9 bp −$391.5K

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
BloFin INIT-USDT	+0.0069%	4h	0.08242	−0.133%	—	$111K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08251	−0.019%	$300K	$230K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08277	+0.291%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08251	−0.021%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08240	−0.158%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08251	−0.024%	$137K	$665K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08249	−0.048%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08248	−0.061%	$447K	$210K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08250	−0.036%	$327K	$54K	25x	as long as short
Bitget INITUSDTlong	+0.0100%	4h	0.08253	long leg	$428K	$312K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDTshort	+0.0100%	4h	0.08246	−0.085%	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08280	+0.332%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0242%	1h	0.08199	−0.651%	$3K	$19K	10x	as long as short