Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against BingX+0.024%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.024% dearer against BingX than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX OP-USDT	0.1249	0.0100	pay 0.0100% / 8h	2h 45m	—	$6.9M	—
Short	dYdX OP-USD	0.1249	0	get 0.0000% / 1h	45m 34s	$39K	$519	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$21
Price spread: +0.024% → 0.000%: $2.4
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.6
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 7 min ago; dYdX: no order-book sample. Net counts fees only.

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 BingX live order book, 7 min ago	0.40 bp	9.5 bp −$10	13.2 bp −$132	79.8 bp −$7,984	404.0 bp −$202.0K
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

OP on 30 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
Injective OP/USDC PERP	−0.1658%	1h	0.1244	−0.376%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1250	+0.066%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.456%	$21K	$64K	50x	as long as short
dYdX OP-USDshort	0.0000%	1h	0.1249	+0.024%	$39K	$519	10x
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1250	+0.104%	$41K	$172K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1250	+0.098%	—	—	150x	as long as short
Variational Omni OP	+0.0010%	8h	0.1249	−0.012%	$228K	$45K	—	as long as short
Orderly PERP_OP_USDC	+0.0027%	8h	0.1249	+0.024%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0094%	8h	0.1248	−0.064%	$5.8M	$29.4M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1249	+0.024%	$267K	$899K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1250	+0.104%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1250	+0.087%	$210K	$243K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1248	−0.028%	$20.2M	$62.5M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1247	−0.096%	$18.3M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1249	−0.008%	$1.8M	$1.4M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1249	−0.016%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1248	−0.056%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1249	+0.024%	$5.9M	$6.2M	75x	as long as short
BingX OP-USDTlong	+0.0100%	8h	0.1249	long leg	—	$6.9M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1249	+0.040%	$127K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1250	+0.099%	$9K	$381K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1249	+0.026%	$309K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1251	+0.184%	$45K	$718K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1249	+0.032%	$161	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1249	+0.016%	$173K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1248	−0.082%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1249	+0.031%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0137%	1h	0.1250	+0.121%	$772K	$733K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1250	+0.128%	$995K	$287K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1248	−0.038%	$694	—	20x	as long as short