Settings8H · net · $10k
Funding arb · Price arb /

SWARMS

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h 0.000%
Price spread now: Extended against BingX−0.006%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$325as in the Funding arb table
Net, price: spread back to 7d avg − costs−$325as in the Price arb table
costs, in and out, $10k−$3283.284% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.033%+$3 on $10k
Price spread, last 4 days (all we have)−0.374%−$37 · spread now −0.006%, 7d avg −0.036%
Together, before fees−0.341%+ Points / potential airdropExtended: Active · farm board−$34 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.030% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.036%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX SWARMS-USDT0.0083350.0940pay 0.0470% / 4h0m 54s$6.5M
ShortExtended SWARMS-USD0.0083340.1008get 0.0126% / 1h0m 54s$7K$143K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
$14.28
Price spread: −0.006% → −0.036%
$2.95
Slippage, 4 orders
−$313.38
Fee BingX: 5 bp × 2 orders
−$10
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$311.15
Costs to cover
3.284%
Break-even
159.5 days
Slippage from BingX: live order book, 10 min ago; Extended: live order book, 55 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 10 min ago2.41 bp40.0 bp −$40273.4 bp −$2,734536.4 bp −$53.6K719.3 bp −$359.7K
Sell Extended live order book, 55 min ago9.13 bp117.1 bp −$117doesn't fitdoesn't fitdoesn't fit

SWARMS on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate SWARMS_USDT+0.0100%4h0.008319−0.192%$959K$120K10xas long as short
BingX SWARMS-USDTlong+0.0940%4h0.008335long leg$6.5M
MEXC SWARMS_USDT+0.0986%4h0.008337+0.024%$153K$105K100xas long as short
BloFin SWARMS-USDT+0.0997%4h0.008334−0.012%$233K$7K20xas long as short
Extended SWARMS-USDshort+0.1008%1h0.008334−0.006%$7K$143K5x
Binance SWARMSUSDT+0.1010%4h0.008337+0.020%$3.6M$3.7M20xas long as short
KuCoin SWARMSUSDTM+0.1352%4h0.008320−0.180%$782K$135K20xas long as short
Aster SWARMSUSDT+0.1496%4h0.008315−0.237%$31K$139K5xas long as short
Kraken Futures PF_SWARMSUSD+1.3025%1h0.008383+0.575%$9K$20910xas long as short