Funding arb · Price arb /

SPK

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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 0.000%

Price spread now: BingX against Bybit−0.050%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1431.428% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 7 days+0.150%+$15 · spread now −0.050%, 7d avg +0.048%

Together, before fees+0.276%+$28 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 0.098% cheaper against Bybit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPKUSDT	0.02185	0.0100	pay 0.0050% / 4h	2h 30m	$1.9M	$2.2M	25x
Short	BingX SPK-USDT	0.02184	0.0100	get 0.0050% / 4h	2h 30m	—	$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 −0.050%Rate

Funding earned: $0
Price spread: −0.050% → +0.048%: −$9.79
Slippage, 4 orders: −$121.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$152.57
Costs to cover: 1.428%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; BingX: live order book, 8 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	2.29 bp	51.3 bp −$51	169.3 bp −$1,693	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	4.63 bp	28.9 bp −$29	90.2 bp −$902	doesn't fit	doesn't fit

SPK on 13 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
Gate SPK_USDT	−0.0222%	4h	0.02185	−0.005%	$143K	$131K	50x	as long as short
Aster SPKUSDT	+0.0073%	4h	0.02186	+0.038%	$9K	$66K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02185	−0.005%	$3.8M	$5.7M	50x	as long as short
Bybit SPKUSDTlong	+0.0100%	4h	0.02185	long leg	$1.9M	$2.2M	25x
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02184	−0.050%	$770K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02184	−0.050%	$2.1M	$640K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02187	+0.087%	$940K	$414K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02185	−0.005%	$1.3M	$1.4M	50x	as long as short
BingX SPK-USDTshort	+0.0100%	4h	0.02184	−0.050%	—	$2.3M	—
Variational Omni SPK	+0.0100%	4h	0.02186	+0.026%	$177K	$76K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02231	+2.101%	$1K	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02183	−0.076%	$1K	$141K	5x	as long as short
Kraken Futures PF_SPKUSD	+0.0801%	1h	0.02191	+0.259%	$23K	$28K	10x	as long as short