Funding arb · Price arb /

STABLE

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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 MEXC−0.040%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$850.846% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.040%, 7d avg +0.054%

Together, before fees+0.263%+$26 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 0.094% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC STABLE_USDT	0.02514	0.0100	pay 0.0050% / 4h	3h 41m	$624K	$168K	20x
Short	BingX STABLE-USDT	0.02513	0.0100	get 0.0050% / 4h	3h 41m	—	$6.5M	—

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 −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.054%: −$9.35
Slippage, 4 orders: −$66.61
Fee MEXC: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$93.96
Costs to cover: 0.846%
Break-even: never at this rate

Slippage from MEXC: live order book, 24 min ago; BingX: live order book, 5 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, 24 min ago	1.98 bp	12.8 bp −$13	42.0 bp −$420	222.5 bp −$22.3K	679.3 bp −$339.7K
Sell BingX live order book, 5 min ago	5.97 bp	24.4 bp −$24	71.4 bp −$714	436.1 bp −$43.6K	1229.2 bp −$614.6K

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	+0.0085%	4h	0.02519	+0.199%	$116K	$8K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02527	+0.537%	$116K	$8K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02514	+0.008%	$887K	$222K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02516	+0.092%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02514	+0.009%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02513	−0.040%	$1.5M	$790K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02511	−0.119%	$206K	$445K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02518	+0.159%	$175K	$71K	50x	as long as short
MEXC STABLE_USDTlong	+0.0100%	4h	0.02514	long leg	$624K	$168K	20x
KuCoin STABLEUSDTM	+0.0100%	4h	0.02521	+0.278%	$181K	$29K	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	0.02515	+0.040%	$294K	$118K	25x	as long as short
BingX STABLE-USDTshort	+0.0100%	4h	0.02513	−0.040%	—	$6.5M	—
Variational Omni STABLE	+0.0100%	4h	0.02515	+0.044%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02516	+0.064%	$1K	$766K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02516	+0.065%	$12K	$177K	10x	as long as short