Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0159%/8h= +17.4% APRpaid last 24h −0.049%

Price spread now: Deribit against BingX−0.051%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Deribit is 0.051% cheaper against BingX than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 26 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.03937	0.0100	pay 0.0050% / 4h	4m 31s	—	$6.8M	—
Short	Deribit S_USDC-PERPETUAL	0.03935	0.0259	get 0.0032% / 1h	4m 31s	$66K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.051%Rate

Funding earned: $33.29
Price spread: −0.051% → 0.000%: −$5.08
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $11.21
Costs to cover: 0.170%
Break-even: 4.6 days

Slippage unknown: BingX: live order book, 8 min ago; Deribit: 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, 8 min ago	3.76 bp	18.5 bp −$18	57.2 bp −$572	452.2 bp −$45.2K	778.0 bp −$389.0K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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	−0.6360%	1h	0.03930	−0.178%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2598%	1h	0.03929	−0.193%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03908	−0.737%	$47K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03932	−0.119%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03940	+0.073%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.03906	−0.779%	$607K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03943	+0.151%	$608	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.140%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0071%	4h	0.03932	−0.127%	$97K	$281K	10x	as long as short
Lighter S	+0.0096%	1h	0.03932	−0.127%	$165K	$158K	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	0.03941	+0.107%	$987K	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03933	−0.094%	$43K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03939	+0.051%	$5.4M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03932	−0.127%	$5.6M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03938	+0.025%	$998K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03932	−0.127%	$321K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03940	+0.076%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03937	0.000%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03946	+0.229%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.03937	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+1.346%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03936	−0.029%	$221K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0259%	1h	0.03935	−0.051%	$66K	$10K	10x
BloFin S-USDT	+0.0340%	4h	0.03935	−0.051%	$267K	$99K	75x	as long as short
Backpack S_USDC_PERP	+0.1081%	1h	0.03940	+0.076%	$115K	$421K	5x	as long as short