Funding arb · Price arb /

SKL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0556%/8h= +60.9% APRpaid last 24h −0.093%

Price spread now: BingX against Bybit+0.087%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1971.975% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.572%+$57 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +0.087%, 7d avg −0.027%

Together, before fees+0.502%+$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and BingX is 0.114% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKLUSDT	0.004602	−0.0456	get 0.0456% / 8h	7h 39m	$887K	$1.0M	25x
Short	BingX SKL-USDT	0.004606	0.0100	get 0.0050% / 4h	3h 39m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $116.72
Price spread: +0.087% → −0.027%: $11.35
Slippage, 4 orders: −$176.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$69.4
Costs to cover: 1.975%
Break-even: 11.2 days

Slippage from Bybit: live order book, 1 min ago; BingX: live order book, 5 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 Bybit live order book, 1 min ago	4.34 bp	74.4 bp −$74	612.9 bp −$6,129	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	8.68 bp	31.8 bp −$32	70.9 bp −$709	397.1 bp −$39.7K	doesn't fit

SKL on 10 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
Bybit SKLUSDTlong	−0.0456%	8h	0.004602	long leg	$887K	$1.0M	25x
Bitget SKLUSDT	+0.0092%	4h	0.004605	+0.065%	$500K	$1.0M	25x	as long as short
BloFin SKL-USDT	+0.0093%	4h	0.004607	+0.109%	$184K	$44K	50x	as long as short
Binance SKLUSDT	+0.0100%	4h	0.004601	−0.029%	$2.8M	$9.5M	50x	as long as short
Gate SKL_USDT	+0.0100%	4h	0.004610	+0.174%	$205K	$237K	50x	as long as short
MEXC SKL_USDT	+0.0100%	4h	0.004605	+0.065%	$395K	$206K	20x	as long as short
KuCoin SKLUSDTM	+0.0100%	4h	0.004611	+0.196%	$841K	$365K	30x	as long as short
BingX SKL-USDTshort	+0.0100%	4h	0.004606	+0.087%	—	$2.3M	—
Variational Omni SKL	+0.0100%	8h	0.004607	+0.115%	$709	$1K	—	as long as short
Kraken Futures PF_SKLUSD	+0.0400%	1h	0.004615	+0.285%	$5K	$5K	10x	as long as short