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: BingX against MEXC−0.245%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1321.316% of the position

Long on MEXC 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+0.128%+$13 · spread now −0.245%, 7d avg −0.110%

Together, before fees+0.128%+$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: BingX is 0.135% cheaper against MEXC than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02859	0.0100	pay 0.0050% / 4h	1h 21m	$5.8M	$172K	50x
Short	BingX SQD-USDT	0.02852	0.0100	get 0.0050% / 4h	1h 21m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.245%Rate

Funding earned: $0
Price spread: −0.245% → −0.110%: −$13.46
Slippage, 4 orders: −$117.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$145.02
Costs to cover: 1.316%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; BingX: live order book, 2 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 MEXC live order book, 1 min ago	3.50 bp	23.6 bp −$24	81.4 bp −$814	241.2 bp −$24.1K	doesn't fit
Sell BingX live order book, 2 min ago	10.53 bp	45.3 bp −$45	104.8 bp −$1,048	851.5 bp −$85.1K	1257.9 bp −$628.9K

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	+0.0099%	4h	0.02857	−0.070%	$81K	$43K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02850	−0.307%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02859	0.000%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02847	−0.420%	$887K	$506K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02848	−0.385%	$600K	$44K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02859	long leg	$5.8M	$172K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02853	−0.210%	$401K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02851	−0.280%	$730K	$82K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02852	−0.245%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02852	−0.257%	$11K	$52K	—	as long as short