Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against BingX+0.079%45s7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.461% of the position

Long on BingX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.079%, 7d avg +0.107%

Together, before fees+0.023%+$2 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: Arcus is 0.029% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.107%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDC	8.8910	0.0100	pay 0.0100% / 8h	2h 14m	—	$6.5M	—
Short	Arcus UNI-USD	8.8980	0.0100	get 0.0013% / 1h	14m 41s	$274K	$612K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.107%: −$2.87
Slippage, 4 orders: −$31.64
Fee BingX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$49.01
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Arcus: live order book, 9 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, 6 min ago	1.12 bp	14.1 bp −$14	30.8 bp −$308	83.9 bp −$8,394	693.0 bp −$346.5K
Sell Arcus live order book, 9 min ago	3.36 bp	10.6 bp −$11	12.7 bp −$127	doesn't fit	doesn't fit

UNI on 40 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
Variational Omni UNI	−0.0136%	8h	8.8841	−0.078%	$4.0M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0091%	8h	8.8950	+0.045%	$101.4M	$106.1M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8971	+0.068%	$563K	$138K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8919	+0.010%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0023%	8h	8.8880	−0.034%	$54.7M	$247.9M	50x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	8.8941	+0.035%	$444	—	10x	as long as short
dYdX UNI-USD	+0.0088%	1h	8.8929	+0.021%	$246K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8898	−0.013%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8920	+0.011%	$850K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8973	+0.071%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8971	+0.068%	$301K	$563K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8966	+0.063%	$217.3M	$595.7M	75x	as long as short
Arcus UNI-USDshort	+0.0100%	1h	8.8980	+0.079%	$274K	$612K	10x
Gate UNI_USDT	+0.0100%	8h	8.8910	0.000%	$23.1M	$59.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8940	+0.034%	$43.2M	$24.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8910	0.000%	$13.4M	$13.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8920	+0.011%	$32.2M	$41.5M	75x	as long as short
BingX UNI-USDClong	+0.0100%	8h	8.8910	long leg	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8955	+0.051%	$987K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8994	+0.094%	$167K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8970	+0.067%	$618K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9000	+0.101%	$84K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8900	−0.011%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8895	−0.017%	$94K	$334K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8900	−0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8968	+0.065%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8910	0.000%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9063	+0.172%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8930	+0.022%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8882	−0.031%	$308K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8926	+0.018%	$32K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9020	+0.124%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8860	−0.056%	$9.8M	$3.4M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	8.8974	+0.072%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0303%	1h	8.9046	+0.153%	$96.9M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.8882	−0.031%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8920	+0.011%	$558K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0543%	1h	8.9056	+0.164%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0584%	1h	8.9139	+0.258%	$4.6M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.136%	$657	$97K	12x	as long as short