Funding arb · Price arb /

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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−0.026%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1161.159% 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 7 days+0.007%+$1 · spread now −0.026%, 7d avg −0.002%

Together, before fees+0.007%+$1 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 0.024% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LAYERUSDT	0.07671	0.0100	pay 0.0050% / 4h	1h 47m	$1.1M	$166K	50x
Short	BingX LAYER-USDT	0.07669	0.0100	get 0.0050% / 4h	1h 47m	—	$1.6M	—

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 −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.002%: −$2.38
Slippage, 4 orders: −$93.9
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.28
Costs to cover: 1.159%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; BingX: live order book, 15 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, 4 min ago	8.45 bp	34.8 bp −$35	275.2 bp −$2,752	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	5.21 bp	23.2 bp −$23	93.2 bp −$932	515.0 bp −$51.5K	800.7 bp −$400.4K

LAYER on 12 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_LAYERUSD	−0.0419%	1h	0.07672	+0.011%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.175%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07677	+0.083%	$597K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07675	+0.052%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07666	−0.060%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07656	−0.196%	$716K	$732K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07678	+0.091%	$137K	$49K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07666	−0.065%	$340K	$116K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07671	long leg	$1.1M	$166K	50x
BingX LAYER-USDTshort	+0.0100%	4h	0.07669	−0.026%	—	$1.6M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07670	−0.013%	$25K	$187K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07666	−0.064%	$3K	$168K	5x	as long as short