Funding arb · Price arb /

S

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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 +0.005%

Price spread now: BingX against Binance−0.129%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days+0.122%+$12 · spread now −0.129%, 7d avg −0.028%

Together, before fees+0.214%+$21 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 0.101% cheaper against Binance than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SUSDT	0.03935	0.0100	pay 0.0050% / 4h	10m 17s	$5.4M	$16.9M	75x
Short	BingX S-USDT	0.03930	0.0100	get 0.0050% / 4h	10m 17s	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → −0.028%: −$10.1
Slippage, 4 orders: −$57.01
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$87.12
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from Binance: live order book, 16 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 Binance live order book, 16 min ago	1.28 bp	18.6 bp −$19	62.1 bp −$621	2500.4 bp −$250.0K	doesn't fit
Sell BingX live order book, 2 min ago	3.82 bp	19.8 bp −$20	58.9 bp −$589	343.3 bp −$34.3K	742.9 bp −$371.5K

S on 25 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
01 Exchange SUSD	−0.5912%	1h	0.03850	−2.162%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2122%	1h	0.03930	−0.133%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.772%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1048%	4h	0.03920	−0.385%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0204% / S +0.0197%	1h	0.03939	+0.095%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.080%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03940	+0.125%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03940	+0.134%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0027%	4h	0.03936	+0.024%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.191%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03937	+0.049%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03934	−0.027%	$986K	$678K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03940	+0.127%	$43K	$142K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.03935	long leg	$5.4M	$16.9M	75x
Bybit SUSDT	+0.0100%	4h	0.03927	−0.205%	$5.6M	$5.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	−0.002%	$982K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03928	−0.180%	$320K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03936	+0.024%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03933	−0.053%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03935	−0.002%	$1.2M	$2.5M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03930	−0.129%	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03930	−0.129%	$114K	$314K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.129%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03932	−0.085%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03928	−0.180%	$265K	$125K	75x	as long as short