Funding arb · Price arb /

XPIN

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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 −0.284%

Price spread now: MEXC against BingX+0.111%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$252as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1711.712% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.808%−$81 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.111%, 7d avg +0.023%

Together, before fees−0.919%−$92 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: MEXC is 0.088% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPIN-USDT	0.0009030	0.0100	pay 0.0050% / 4h	3h 56m	—	$6.5M	—
Short	MEXC XPIN_USDT	0.0009040	0.0100	get 0.0050% / 4h	3h 56m	$379K	$127K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.023%: $8.79
Slippage, 4 orders: −$157.17
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$162.38
Costs to cover: 1.712%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; MEXC: live order book, 44 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, 4 min ago	11.07 bp	61.7 bp −$62	218.3 bp −$2,183	doesn't fit	doesn't fit
Sell MEXC live order book, 44 min ago	5.56 bp	24.9 bp −$25	131.6 bp −$1,316	382.5 bp −$38.2K	615.6 bp −$307.8K

XPIN 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
BloFin XPIN-USDT	+0.0089%	4h	0.0009050	+0.221%	$546K	$18K	50x	as long as short
Aster XPINUSDT	+0.0100%	4h	0.0009004	−0.288%	$27K	$24K	5x	as long as short
Binance XPINUSDT	+0.0100%	4h	0.0009040	+0.111%	$8.3M	$2.6M	50x	as long as short
Bybit XPINUSDT	+0.0100%	4h	0.0009008	−0.244%	$2.5M	$787K	20x	as long as short
Gate XPIN_USDT	+0.0100%	8h	0.0009008	−0.244%	$1.3M	$159K	50x	as long as short
MEXC XPIN_USDTshort	+0.0100%	4h	0.0009040	+0.111%	$379K	$127K	100x
KuCoin XPINUSDTM	+0.0100%	4h	0.0009001	−0.321%	$1.3M	$108K	20x	as long as short
Bitget XPINUSDT	+0.0100%	4h	0.0009052	+0.244%	$1.3M	$344K	50x	as long as short
BingX XPIN-USDTlong	+0.0100%	4h	0.0009030	long leg	—	$6.5M	—
Variational Omni XPIN	+0.0100%	4h	0.0009018	−0.134%	$473	$4K	—	as long as short