Funding arb · Price arb /

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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−0.067%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$680.684% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.001%$0 · spread now −0.067%, 7d avg −0.044%

Together, before fees+0.062%+$6 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 0.023% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC W_USDT	0.01188	0.0100	pay 0.0050% / 4h	2m 29s	$12.9M	$1.4M	50x
Short	BingX W-USDT	0.01188	0.0100	get 0.0050% / 4h	2m 29s	—	$6.8M	—

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 −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.044%: −$2.34
Slippage, 4 orders: −$54.43
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$70.77
Costs to cover: 0.684%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; BingX: live order book, 10 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, 6 min ago	0.84 bp	10.3 bp −$10	57.8 bp −$578	82.7 bp −$8,266	165.3 bp −$82.7K
Sell BingX live order book, 10 min ago	4.20 bp	22.1 bp −$22	59.6 bp −$596	503.2 bp −$50.3K	1102.5 bp −$551.2K

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	−0.0170%	1h	0.01189	+0.008%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.725%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01188	−0.042%	$2.0M	$331K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01189	+0.002%	$3.0M	$6.3M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01186	−0.177%	$4.2M	$1.8M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01188	−0.067%	$1.3M	$1.8M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01187	−0.151%	$449K	$231K	75x	as long as short
MEXC W_USDTlong	+0.0100%	4h	0.01188	long leg	$12.9M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01186	−0.210%	$380K	$209K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01188	−0.042%	$1.3M	$568K	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-USDTshort	+0.0100%	4h	0.01188	−0.067%	—	$6.8M	—
Variational Omni W	+0.0100%	4h	0.01186	−0.224%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01189	+0.042%	$128K	$414K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01189	+0.005%	$62K	$233K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01195	+0.581%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.1132%	1h	0.01190	+0.160%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1677%	1h	0.01192	+0.314%	$148K	$184K	20x	as long as short