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 0.000%

Price spread now: Bitget against BingX−0.025%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 7 days+0.126%+$13 · spread now −0.025%, 7d avg +0.068%

Together, before fees+0.047%+$5 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: Bitget is 0.093% cheaper against BingX than usual: you would sell low and buy high, −$9 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	BingX S-USDT	0.03935	0.0100	pay 0.0050% / 4h	1h 41m	—	$6.7M	—
Short	Bitget SUSDT	0.03934	0.0100	get 0.0050% / 4h	1h 41m	$1.2M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.068%: −$9.34
Slippage, 4 orders: −$61.97
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$93.31
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Bitget: live order book, 1 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 BingX live order book, 11 min ago	3.83 bp	18.7 bp −$19	54.6 bp −$546	502.4 bp −$50.2K	831.4 bp −$415.7K
Sell Bitget live order book, 1 min ago	5.08 bp	24.2 bp −$24	58.2 bp −$582	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.1588%	1h	0.03935	0.000%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.770%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0862%	4h	0.03922	−0.327%	$611K	$32K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0188%	1h	0.03937	+0.061%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03934	−0.021%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0016%	1h	0.03940	+0.127%	$24K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	+0.033%	$607	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03937	+0.051%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0024%	4h	0.03934	−0.025%	$100K	$348K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.193%	$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
Aster SUSDT	+0.0058%	4h	0.03938	+0.081%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03938	+0.076%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03934	−0.020%	$987K	$788K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	−0.021%	$5.4M	$20.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03931	−0.102%	$5.6M	$5.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03932	−0.076%	$981K	$6.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03931	−0.102%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03934	−0.025%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03932	−0.076%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.03934	−0.025%	$1.2M	$2.7M	50x
BingX S-USDTlong	+0.0100%	4h	0.03935	long leg	—	$6.7M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.127%	$25K	$466K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03932	−0.083%	$221K	$881K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03930	−0.127%	$268K	$127K	75x	as long as short
Backpack S_USDC_PERP	+0.0377%	1h	0.03940	+0.127%	$115K	$300K	5x	as long as short