Funding arb · Price arb /

IO

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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: BingX against Binance+0.066%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.066%, 7d avg −0.006%

Together, before fees+0.017%+$2 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 0.073% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1504	0.0100	pay 0.0050% / 4h	2h 40m	$3.0M	$6.4M	50x
Short	BingX IO-USDT	0.1505	0.0100	get 0.0050% / 4h	2h 40m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → −0.006%: $7.25
Slippage, 4 orders: −$70.3
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$83.04
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; BingX: live order book, 6 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 Binance live order book, 13 min ago	3.33 bp	20.1 bp −$20	98.1 bp −$981	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	6.66 bp	25.2 bp −$25	66.0 bp −$660	466.0 bp −$46.6K	704.2 bp −$352.1K

IO on 14 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
Injective IO/USDC PERP	−0.0157%	1h	0.1503	−0.066%	$2K	$101	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1504	+0.020%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1505	+0.083%	$6K	$32K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1504	long leg	$3.0M	$6.4M	50x
Bybit IOUSDT	+0.0100%	4h	0.1501	−0.173%	$1.1M	$863K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1505	+0.047%	$230K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1502	−0.133%	$1.1M	$237K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1503	−0.066%	$401K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1504	0.000%	$1.4M	$1.1M	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1505	+0.066%	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1502	−0.166%	$30K	$5K	—	as long as short
BloFin IO-USDT	+0.0103%	4h	0.1506	+0.133%	$192K	$30K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1504	−0.008%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSD	+0.5462%	1h	0.1505	+0.085%	$39K	$21K	10x	as long as short