Funding arb · Price arb /

ONG

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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 −0.241%

Price spread now: BingX against Bybit−0.166%7-day average −0.242% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1421.419% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.449%+$45 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.166%, 7d avg −0.242%

Together, before fees+0.490%+$49 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 0.076% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.242%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONGUSDT	0.09020	0.0100	pay 0.0050% / 4h	2h 49m	$2.5M	$3.1M	20x
Short	BingX ONG-USDT	0.09005	0.0100	get 0.0050% / 4h	2h 49m	—	$1.3M	—

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 −0.166%Rate

Funding earned: $0
Price spread: −0.166% → −0.242%: $7.57
Slippage, 4 orders: −$120.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$134.3
Costs to cover: 1.419%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BingX: live order book, 12 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, 3 min ago	1.66 bp	59.3 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.33 bp	17.5 bp −$17	38.5 bp −$385	267.8 bp −$26.8K	452.9 bp −$226.4K

ONG 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
HTX ONG-USDT	−0.3153%	4h	0.08990	−0.333%	$28K	$100K	20x	as long as short
MEXC ONG_USDT	−0.1142%	4h	0.09007	−0.144%	$9.8M	$383K	20x	as long as short
Binance ONGUSDT	−0.1139%	4h	0.09001	−0.211%	$6.7M	$15.6M	50x	as long as short
Extended ONG-USD	−0.1136%	1h	0.08999	−0.231%	$170K	$18K	5x	as long as short
Bitget ONGUSDT	−0.0902%	4h	0.09009	−0.122%	$1.4M	$1.2M	50x	as long as short
Gate ONG_USDT	−0.0686%	4h	0.09009	−0.122%	$368K	$353K	20x	as long as short
Aster ONGUSDT	−0.0664%	1h	0.09023	+0.033%	$76K	$100K	5x	as long as short
Variational Omni ONG	−0.0137%	4h	0.09039	+0.206%	$148K	$45K	—	as long as short
Bybit ONGUSDTlong	+0.0100%	4h	0.09020	long leg	$2.5M	$3.1M	20x
BingX ONG-USDTshort	+0.0100%	4h	0.09005	−0.166%	—	$1.3M	—