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 −0.326%

Price spread now: Bitget against Bybit+0.527%7-day average +0.385% · you sell dearer than you buy

Net, funding: paid 7d − costs−$713as in the Funding arb table

Net, price: spread back to 7d avg − costs−$604as in the Price arb table

costs, in and out, $10k−$6186.178% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.949%−$95 on $10k

Price spread, last 7 days−0.266%−$27 · spread now +0.527%, 7d avg +0.385%

Together, before fees−1.216%−$122 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: Bitget is 0.142% dearer against Bybit than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.385%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPINUSDT	0.0008915	0.0100	pay 0.0050% / 4h	1h 42m	$2.5M	$691K	20x
Short	Bitget XPINUSDT	0.0008962	0.0100	get 0.0050% / 4h	1h 42m	$1.2M	$319K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.527%Rate

Funding earned: $0
Price spread: +0.527% → +0.385%: $14.24
Slippage, 4 orders: −$594.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$603.53
Costs to cover: 6.178%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Bitget: live order book, 3 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 Bybit live order book, 4 min ago	6.74 bp	314.4 bp −$314	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	8.95 bp	62.4 bp −$62	388.2 bp −$3,882	doesn't fit	doesn't fit

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	+0.0043%	4h	0.0008950	+0.393%	$535K	$17K	50x	as long as short
Aster XPINUSDT	+0.0100%	4h	0.0008937	+0.247%	$27K	$22K	5x	as long as short
Binance XPINUSDT	+0.0100%	4h	0.0008950	+0.390%	$8.3M	$2.4M	50x	as long as short
Bybit XPINUSDTlong	+0.0100%	4h	0.0008915	long leg	$2.5M	$691K	20x
Gate XPIN_USDT	+0.0100%	8h	0.0008895	−0.224%	$1.2M	$155K	50x	as long as short
MEXC XPIN_USDT	+0.0100%	4h	0.0008940	+0.280%	$385K	$130K	100x	as long as short
KuCoin XPINUSDTM	+0.0100%	4h	0.0008918	+0.034%	$1.3M	$93K	20x	as long as short
Bitget XPINUSDTshort	+0.0100%	4h	0.0008962	+0.527%	$1.2M	$319K	50x
BingX XPIN-USDT	+0.0100%	4h	0.0008930	+0.168%	—	$6.5M	—	as long as short
Variational Omni XPIN	+0.0100%	4h	0.0008895	−0.219%	$466	$4K	—	as long as short