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 MEXC+0.065%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$650.653% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.065%, 7d avg +0.037%

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 0.028% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LAYER_USDT	0.07697	0.0100	pay 0.0050% / 4h	3h 44m	$341K	$115K	20x
Short	BingX LAYER-USDT	0.07702	0.0100	get 0.0050% / 4h	3h 44m	—	$1.6M	—

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 +0.065%Rate

Funding earned: $0
Price spread: +0.065% → +0.037%: $2.84
Slippage, 4 orders: −$55.34
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$62.51
Costs to cover: 0.653%
Break-even: never at this rate

Slippage from MEXC: live order book, 11 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 MEXC live order book, 11 min ago	1.30 bp	11.3 bp −$11	56.9 bp −$569	186.6 bp −$18.7K	doesn't fit
Sell BingX live order book, 8 min ago	5.20 bp	19.7 bp −$20	75.3 bp −$753	540.0 bp −$54.0K	775.1 bp −$387.6K

LAYER 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_LAYERUSD	−0.0784%	1h	0.07700	+0.036%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.496%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07708	+0.143%	$596K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07708	+0.142%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07699	+0.021%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07697	0.000%	$708K	$688K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07702	+0.065%	$138K	$52K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07697	long leg	$341K	$115K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07703	+0.078%	$1.1M	$165K	50x	as long as short
BingX LAYER-USDTshort	+0.0100%	4h	0.07702	+0.065%	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07690	−0.091%	$26K	$181K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07704	+0.094%	$2K	$176K	5x	as long as short
BloFin LAYER-USDT	+0.0139%	4h	0.07694	−0.039%	$113K	$14K	50x	as long as short