Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget−0.143%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1171.170% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.143%, 7d avg −0.048%

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 0.095% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WALUSDT	0.03498	0.0100	pay 0.0050% / 4h	3h 08m	$599K	$971K	20x
Short	BingX WAL-USDT	0.03493	0.0100	get 0.0050% / 4h	3h 08m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → −0.048%: −$9.49
Slippage, 4 orders: −$95.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$126.52
Costs to cover: 1.170%
Break-even: never at this rate

Slippage from Bitget: live order book, 42 min ago; BingX: live order book, 12 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 Bitget live order book, 42 min ago	4.27 bp	37.7 bp −$38	200.6 bp −$2,006	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	5.70 bp	26.8 bp −$27	83.9 bp −$839	561.5 bp −$56.2K	1062.7 bp −$531.3K

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
Bybit WALUSDT	−0.0266%	4h	0.03493	−0.143%	$1.5M	$1.9M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0090%	4h	0.03489	−0.257%	$223K	$1.1M	10x	as long as short
Binance WALUSDT	+0.0100%	4h	0.03489	−0.257%	$2.4M	$7.1M	75x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03493	−0.143%	$300K	$589K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03488	−0.286%	$601K	$312K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03489	−0.257%	$331K	$60K	30x	as long as short
Bitget WALUSDTlong	+0.0100%	4h	0.03498	long leg	$599K	$971K	20x
BingX WAL-USDTshort	+0.0100%	4h	0.03493	−0.143%	—	$6.6M	—
Variational Omni WAL	+0.0100%	4h	0.03500	+0.053%	$22K	$11K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03493	−0.143%	$31K	$650K	20x	as long as short