Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.004%

Price spread now: BingX against Extended+0.008%7-day average +0.065% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1151.152% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.008%, 7d avg +0.065%

Together, before fees+0.057%+ Points / potential airdropExtended: Active · farm board+$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: BingX is 0.057% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.03982	0.0104	pay 0.0013% / 1h	43m 08s	$225K	$1.1M	10x
Short	BingX S-USDT	0.03982	0.0100	get 0.0050% / 4h	3h 43m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.84
Price spread: +0.008% → +0.065%: −$5.68
Slippage, 4 orders: −$100.21
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$121.73
Costs to cover: 1.152%
Break-even: never at this rate

Slippage from Extended: live order book, 30 min ago; BingX: live order book, 4 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 Extended live order book, 30 min ago	5.10 bp	41.4 bp −$41	270.9 bp −$2,709	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	5.03 bp	23.0 bp −$23	61.6 bp −$616	368.8 bp −$36.9K	752.3 bp −$376.1K

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	−0.5704%	1h	0.03970	−0.293%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2031%	1h	0.03977	−0.119%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.910%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0943%	4h	0.03974	−0.183%	$617K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03984	+0.059%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03981	−0.007%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03985	+0.093%	$614	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03983	+0.034%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.972%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03986	+0.109%	$162K	$190K	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	0.03982	+0.008%	$997K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03982	+0.015%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03983	+0.045%	$5.4M	$16.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03978	−0.092%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03985	+0.084%	$984K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03974	−0.192%	$325K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03984	+0.059%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03983	+0.034%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03984	+0.059%	$1.2M	$2.4M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03982	+0.008%	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03980	−0.042%	$116K	$317K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.293%	$26K	$448K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.03982	long leg	$225K	$1.1M	10x
BloFin S-USDT	+0.0340%	4h	0.03971	−0.268%	$267K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0754%	1h	0.03990	+0.209%	$67K	$10K	10x	as long as short