Funding arb · Price arb /

MAGMA

all MAGMA markets

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 +0.024%

Price spread now: BingX against Bybit+0.105%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1801.800% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.064%−$6 · spread now +0.105%, 7d avg +0.068%

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 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MAGMAUSDT	0.2286	0.0100	pay 0.0050% / 4h	3h 40m	$1.7M	$1.1M	20x
Short	BingX MAGMA-USDT	0.2288	0.0100	get 0.0050% / 4h	3h 40m	—	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → +0.068%: $3.66
Slippage, 4 orders: −$159.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$176.35
Costs to cover: 1.800%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; BingX: live order book, 2 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 Bybit live order book, 1 min ago	2.18 bp	64.1 bp −$64	1072.4 bp −$10.7K	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	4.36 bp	27.9 bp −$28	97.9 bp −$979	doesn't fit	doesn't fit

MAGMA on 10 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
Aster MAGMAUSDT	+0.0100%	4h	0.2290	+0.169%	$1.4M	$354K	5x	as long as short
Binance MAGMAUSDT	+0.0100%	4h	0.2288	+0.112%	$4.5M	$6.9M	20x	as long as short
Bybit MAGMAUSDTlong	+0.0100%	4h	0.2286	long leg	$1.7M	$1.1M	20x
Gate MAGMA_USDT	+0.0100%	4h	0.2292	+0.284%	$963K	$231K	20x	as long as short
MEXC MAGMA_USDT	+0.0100%	4h	0.2287	+0.052%	$11.3M	$270K	50x	as long as short
KuCoin MAGMAUSDTM	+0.0100%	4h	0.2286	−0.004%	$266K	$31K	20x	as long as short
Bitget MAGMAUSDT	+0.0100%	4h	0.2287	+0.066%	$2.2M	$906K	20x	as long as short
BingX MAGMA-USDTshort	+0.0100%	4h	0.2288	+0.105%	—	$1.4M	—
Variational Omni MAGMA	+0.0100%	4h	0.2290	+0.186%	$11K	$3K	—	as long as short
Extended MAGMA-USD	+0.0104%	1h	0.2289	+0.131%	$965	—	5x	as long as short