Funding arb · Price arb /

SQD

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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 Binance−0.310%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1501.503% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.198%+$20 · spread now −0.310%, 7d avg −0.106%

Together, before fees+0.198%+$20 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 0.204% cheaper against Binance than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SQDUSDT	0.02905	0.0100	pay 0.0050% / 4h	3h 42m	$1.2M	$1.3M	50x
Short	BingX SQD-USDT	0.02896	0.0100	get 0.0050% / 4h	3h 42m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.310%Rate

Funding earned: $0
Price spread: −0.310% → −0.106%: −$20.35
Slippage, 4 orders: −$130.32
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$170.67
Costs to cover: 1.503%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; BingX: live order book, 11 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 Binance live order book, 5 min ago	5.17 bp	33.8 bp −$34	192.4 bp −$1,924	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	10.38 bp	36.1 bp −$36	97.5 bp −$975	951.5 bp −$95.1K	1348.4 bp −$674.2K

SQD 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
BloFin SQD-USDT	+0.0044%	4h	0.02899	−0.207%	$81K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02894	−0.377%	$15K	$1K	5x	as long as short
Binance SQDUSDTlong	+0.0100%	4h	0.02905	long leg	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02894	−0.379%	$900K	$451K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02895	−0.344%	$610K	$41K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02905	0.000%	$5.9M	$173K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02902	−0.103%	$407K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02896	−0.310%	$741K	$76K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02896	−0.310%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02891	−0.480%	$11K	$52K	—	as long as short