Funding arb · Price arb /

STABLE

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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: Bybit against BingX+0.160%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1331.328% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.369%−$37 on $10k

Price spread, last 7 days−0.077%−$8 · spread now +0.160%, 7d avg +0.070%

Together, before fees−0.445%−$45 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: Bybit is 0.090% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02493	0.0100	pay 0.0050% / 4h	36m 46s	—	$6.5M	—
Short	Bybit STABLEUSDT	0.02497	0.0100	get 0.0050% / 4h	36m 46s	$1.5M	$755K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.160%Rate

Funding earned: $0
Price spread: +0.160% → +0.070%: $9
Slippage, 4 orders: −$111.84
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.84
Costs to cover: 1.328%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; Bybit: 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, 15 min ago	6.05 bp	29.0 bp −$29	78.9 bp −$789	583.7 bp −$58.4K	1069.2 bp −$534.6K
Sell Bybit live order book, 4 min ago	4.02 bp	30.6 bp −$31	208.4 bp −$2,084	doesn't fit	doesn't fit

STABLE on 15 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 STABLE-USDT	+0.0049%	4h	0.02495	+0.080%	$113K	$7K	75x	as long as short
Aster STABLEUSDT	+0.0075%	4h	0.02493	−0.003%	$19K	$6K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02506	+0.509%	$115K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02494	+0.040%	$880K	$227K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02494	+0.040%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02497	+0.160%	$1.5M	$755K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02496	+0.120%	$205K	$410K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02493	0.000%	$172K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02493	0.000%	$665K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02499	+0.241%	$180K	$28K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02494	+0.040%	$294K	$115K	25x	as long as short
BingX STABLE-USDTlong	+0.0100%	4h	0.02493	long leg	—	$6.5M	—
Variational Omni STABLE	+0.0100%	4h	0.02490	−0.133%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02490	−0.124%	$2K	$668K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02493	−0.009%	$12K	$175K	10x	as long as short