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 0.000%

Price spread now: BingX against MEXC+0.114%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.114%, 7d avg +0.022%

Together, before fees−0.265%−$26 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 0.092% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WAL_USDT	0.03519	0.0100	pay 0.0050% / 4h	1h 15m	$591K	$291K	20x
Short	BingX WAL-USDT	0.03523	0.0100	get 0.0050% / 4h	1h 15m	—	$6.6M	—

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 +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.022%: $9.18
Slippage, 4 orders: −$57.63
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$62.44
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from MEXC: live order book, 39 min ago; BingX: live order book, 11 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, 39 min ago	1.44 bp	8.2 bp −$8	47.1 bp −$471	283.1 bp −$28.3K	doesn't fit
Sell BingX live order book, 11 min ago	5.68 bp	25.2 bp −$25	86.2 bp −$862	567.6 bp −$56.8K	1005.9 bp −$503.0K

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	0.03518	−0.017%	$2.4M	$6.7M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03524	+0.142%	$1.3M	$1.7M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03517	−0.057%	$218K	$1.0M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03525	+0.171%	$297K	$519K	50x	as long as short
MEXC WAL_USDTlong	+0.0100%	4h	0.03519	long leg	$591K	$291K	20x
KuCoin WALUSDTM	+0.0100%	4h	0.03528	+0.256%	$347K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03523	+0.114%	$612K	$920K	20x	as long as short
BingX WAL-USDTshort	+0.0100%	4h	0.03523	+0.114%	—	$6.6M	—
Variational Omni WAL	+0.0100%	4h	0.03530	+0.307%	$23K	$9K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03528	+0.256%	$32K	$794K	20x	as long as short