Funding arb · Price arb /

S

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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 −0.006%

Price spread now: Bybit against BingX−0.122%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.122%, 7d avg −0.050%

Together, before fees+0.059%+$6 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: Bybit is 0.072% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04094	0.0100	pay 0.0050% / 4h	1h 45m	—	$6.8M	—
Short	Bybit SUSDT	0.04089	0.0100	get 0.0050% / 4h	1h 45m	$5.8M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.122%Rate

Funding earned: $0
Price spread: −0.122% → −0.050%: −$7.19
Slippage, 4 orders: −$86.3
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.5
Costs to cover: 1.073%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Bybit: 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 BingX live order book, 7 min ago	3.65 bp	20.7 bp −$21	55.7 bp −$557	448.3 bp −$44.8K	795.0 bp −$397.5K
Sell Bybit live order book, 2 min ago	3.68 bp	31.0 bp −$31	113.2 bp −$1,132	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
01 Exchange SUSD	−1.0544%	1h	0.03940	−3.762%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1680%	1h	0.04089	−0.124%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.759%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0306%	4h	0.04092	−0.054%	$634K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04103	+0.213%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04098	+0.094%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04102	+0.185%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.147%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0064%	4h	0.04100	+0.147%	$102K	$333K	10x	as long as short
Lighter S	+0.0096%	1h	0.04101	+0.171%	$171K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04098	+0.095%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04096	+0.054%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04094	0.000%	$5.7M	$14.0M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04089	−0.122%	$5.8M	$4.5M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04092	−0.049%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04094	0.000%	$336K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04095	+0.024%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04091	−0.073%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04098	+0.098%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04094	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04090	−0.098%	$25K	$451K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04093	−0.026%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04088	−0.147%	—	$111K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0725%	1h	0.04106	+0.293%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1488%	1h	0.04110	+0.391%	$121K	$359K	5x	as long as short