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 MEXC0.000%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1131.130% of the position

Long on MEXC 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)−0.077%−$8 · spread now 0.000%, 7d avg −0.056%

Together, before fees−0.077%−$8 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 0.056% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08407	0.0100	pay 0.0050% / 4h	1h 08m	$447K	$182K	20x
Short	BingX INIT-USDT	0.08407	0.0100	get 0.0050% / 4h	1h 08m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.056%: $5.56
Slippage, 4 orders: −$99.05
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$107.49
Costs to cover: 1.130%
Break-even: never at this rate

Slippage from MEXC: live order book, 22 min ago; BingX: live order book, 14 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 MEXC live order book, 22 min ago	4.18 bp	18.2 bp −$18	82.3 bp −$823	247.0 bp −$24.7K	doesn't fit
Sell BingX live order book, 14 min ago	4.79 bp	34.1 bp −$34	89.7 bp −$897	541.0 bp −$54.1K	847.9 bp −$423.9K

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
Kraken Futures PF_INITUSD	−0.0001%	1h	0.08405	−0.024%	$5K	$24K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08408	+0.007%	$313K	$157K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08424	+0.202%	$28K	$12K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08411	+0.048%	$3.5M	$3.5M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08401	−0.071%	$1.5M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08403	−0.048%	$141K	$660K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08390	−0.202%	$82K	$37K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08407	long leg	$447K	$182K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08398	−0.107%	$325K	$57K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08401	−0.071%	$431K	$284K	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	0.08407	0.000%	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08382	−0.298%	$27K	$11K	—	as long as short
BloFin INIT-USDT	+0.0137%	4h	0.08411	+0.048%	$153K	$70K	25x	as long as short