Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against BingX+0.207%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1581.585% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.133%−$13 · spread now +0.207%, 7d avg +0.106%

Together, before fees−0.133%−$13 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: Binance is 0.102% dearer against BingX than usual: you sell high and buy low, +$10 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	BingX SQD-USDT	0.02894	0.0100	pay 0.0050% / 4h	59m 01s	—	$2.3M	—
Short	Binance SQDUSDT	0.02900	0.0100	get 0.0050% / 4h	59m 01s	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.207%Rate

Funding earned: $0
Price spread: +0.207% → +0.106%: $10.17
Slippage, 4 orders: −$138.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$148.3
Costs to cover: 1.585%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Binance: 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 BingX live order book, 14 min ago	8.77 bp	36.6 bp −$37	114.0 bp −$1,140	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	3.46 bp	36.3 bp −$36	151.3 bp −$1,513	doesn't fit	doesn't fit

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	+0.0064%	4h	0.02898	+0.138%	$80K	$43K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02895	+0.021%	$15K	$1K	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02900	+0.207%	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02890	−0.138%	$901K	$511K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02892	−0.069%	$609K	$45K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02896	+0.069%	$5.9M	$170K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02893	−0.035%	$407K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02894	0.000%	$741K	$82K	25x	as long as short
BingX SQD-USDTlong	+0.0100%	4h	0.02894	long leg	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02881	−0.463%	$11K	$52K	—	as long as short