Funding arb · Price arb /

WAL

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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 −0.065%

Price spread now: Bybit against BingX−0.117%7-day average +0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1711.707% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.194%+$19 · spread now −0.117%, 7d avg +0.081%

Together, before fees+0.182%+$18 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: Bybit is 0.198% cheaper against BingX than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WAL-USDT	0.03422	0.0100	pay 0.0050% / 4h	2h 56m	—	$6.6M	—
Short	Bybit WALUSDT	0.03418	0.0100	get 0.0050% / 4h	2h 56m	$1.3M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.081%: −$19.77
Slippage, 4 orders: −$149.73
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$190.49
Costs to cover: 1.707%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Bybit: live order book, 4 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, 10 min ago	4.30 bp	27.5 bp −$28	92.2 bp −$922	588.0 bp −$58.8K	doesn't fit
Sell Bybit live order book, 4 min ago	1.45 bp	53.3 bp −$53	383.1 bp −$3,831	doesn't fit	doesn't fit

WAL on 10 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
Binance WALUSDT	+0.0100%	4h	0.03423	+0.024%	$2.3M	$6.4M	75x	as long as short
Bybit WALUSDTshort	+0.0100%	4h	0.03418	−0.117%	$1.3M	$1.6M	25x
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03415	−0.205%	$219K	$894K	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03423	+0.029%	$291K	$446K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03424	+0.058%	$583K	$277K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03426	+0.117%	$341K	$70K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03418	−0.117%	$582K	$880K	20x	as long as short
BingX WAL-USDTlong	+0.0100%	4h	0.03422	long leg	—	$6.6M	—
Variational Omni WAL	+0.0100%	4h	0.03465	+1.253%	$21K	$8K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03430	+0.234%	$32K	$763K	20x	as long as short