Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1476%/8h= +161.6% APRpaid last 24h +0.592%

Price spread now: BingX against Coinbase International+0.742%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on BingX

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

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and BingX is 0.742% dearer against Coinbase International than usual: you sell high and buy low: +$74 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03908	−0.1376	get 0.0172% / 1h	4m 23s	$47K	$16K	25x
Short	BingX S-USDT	0.03937	0.0100	get 0.0050% / 4h	4m 23s	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now +0.742%Rate

Funding earned: $309.96
Price spread: +0.742% → 0.000%: $74.21
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $364.17
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; BingX: live order book, 8 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	3.76 bp	14.5 bp −$15	65.0 bp −$650	350.8 bp −$35.1K	688.0 bp −$344.0K

Coinbase International: 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	+0.563%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2598%	1h	0.03929	+0.547%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1376%	1h	0.03908	long leg	$47K	$16K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03932	+0.622%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03940	+0.815%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.03906	−0.043%	$607K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03943	+0.894%	$608	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.913%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0071%	4h	0.03932	+0.614%	$97K	$281K	10x	as long as short
Lighter S	+0.0096%	1h	0.03932	+0.614%	$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	+0.850%	$987K	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03933	+0.647%	$43K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03939	+0.793%	$5.4M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03932	+0.614%	$5.6M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03938	+0.768%	$998K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03932	+0.614%	$321K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03940	+0.819%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03937	+0.742%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03946	+0.972%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03937	+0.742%	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+2.098%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03936	+0.713%	$221K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0259%	1h	0.03935	+0.691%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03935	+0.691%	$267K	$99K	75x	as long as short
Backpack S_USDC_PERP	+0.1081%	1h	0.03940	+0.819%	$115K	$421K	5x	as long as short