Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.031%

Price spread now: Coinbase International against BingX+0.382%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.382% dearer against BingX than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX W-USDT	0.01178	0.0100	pay 0.0050% / 4h	2h 08m	—	$6.9M	—
Short	Coinbase International W-PERP-INTX	0.01183	0.0360	get 0.0045% / 1h	8m 55s	$14K	$16K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.382%Rate

Funding earned: $54.6
Price spread: +0.382% → 0.000%: $38.19
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $72.79
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 14 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 14 min ago	4.64 bp	27.7 bp −$28	86.9 bp −$869	623.3 bp −$62.3K	1081.5 bp −$540.7K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0174%	1h	0.01179	+0.059%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.597%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.051%	$2.0M	$384K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01179	+0.068%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01178	−0.059%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01178	−0.025%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01179	+0.051%	$445K	$265K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01179	+0.042%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01180	+0.136%	$422K	$194K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01180	+0.136%	$1.3M	$575K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDTlong	+0.0100%	4h	0.01178	long leg	—	$6.9M	—
Variational Omni W	+0.0100%	4h	0.01181	+0.186%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01183	+0.381%	$129K	$413K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01179	+0.043%	$60K	$236K	5x	as long as short
Coinbase International W-PERP-INTXshort	+0.0360%	1h	0.01183	+0.382%	$14K	$16K	50x
Backpack W_USDC_PERP	+0.0415%	1h	0.01180	+0.178%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1539%	1h	0.01182	+0.307%	$147K	$180K	20x	as long as short