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 Bybit+0.060%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1741.742% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 7 days+0.005%+$1 · spread now +0.060%, 7d avg +0.095%

Together, before fees+0.052%+$5 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 0.035% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08310	0.0100	pay 0.0050% / 4h	1h 18m	$1.4M	$1.5M	25x
Short	BingX INIT-USDT	0.08315	0.0100	get 0.0050% / 4h	1h 18m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → +0.095%: −$3.5
Slippage, 4 orders: −$153.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$177.66
Costs to cover: 1.742%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BingX: 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 Bybit live order book, 2 min ago	7.81 bp	47.8 bp −$48	92.7 bp −$927	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	7.24 bp	42.7 bp −$43	100.9 bp −$1,009	522.2 bp −$52.2K	809.4 bp −$404.7K

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	+0.0048%	4h	0.08328	+0.217%	$153K	$112K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08313	+0.032%	$303K	$227K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08311	+0.014%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08317	+0.084%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDTlong	+0.0100%	4h	0.08310	long leg	$1.4M	$1.5M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08321	+0.132%	$137K	$669K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08307	−0.036%	$84K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08318	+0.096%	$451K	$211K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08312	+0.024%	$329K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08320	+0.120%	$432K	$315K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDTshort	+0.0100%	4h	0.08315	+0.060%	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08328	+0.216%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0240%	1h	0.08272	−0.451%	$3K	$19K	10x	as long as short