Funding arb · Price arb /

IO

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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 MEXC+0.132%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1051.049% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.132%, 7d avg +0.049%

Together, before fees+0.030%+$3 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 0.083% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IO_USDT	0.1513	0.0100	pay 0.0050% / 4h	2h 05m	$1.2M	$231K	125x
Short	BingX IO-USDT	0.1515	0.0100	get 0.0050% / 4h	2h 05m	—	$1.3M	—

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 +0.132%Rate

Funding earned: $0
Price spread: +0.132% → +0.049%: $8.29
Slippage, 4 orders: −$90.87
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$96.58
Costs to cover: 1.049%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; BingX: live order book, 9 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, just now	6.61 bp	20.8 bp −$21	181.2 bp −$1,812	300.6 bp −$30.1K	doesn't fit
Sell BingX live order book, 9 min ago	9.87 bp	30.4 bp −$30	73.3 bp −$733	458.2 bp −$45.8K	581.6 bp −$290.8K

IO 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 IO	+0.0100%	1h	0.1515	+0.132%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1515	+0.102%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1515	+0.132%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1513	0.000%	$1.1M	$911K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1513	+0.026%	$235K	$562K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1513	long leg	$1.2M	$231K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1514	+0.066%	$357K	$680K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1515	+0.132%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1515	+0.132%	—	$1.3M	—
Variational Omni IO	+0.0100%	4h	0.1514	+0.049%	$33K	$13K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1514	+0.042%	$1K	$134K	5x	as long as short
Injective IO/USDC PERP	+0.1587%	1h	0.1517	+0.264%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1591%	1h	0.1517	+0.243%	$39K	$18K	10x	as long as short