Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0891%/8h= +97.6% APRpaid last 24h +0.039%

Price spread now: tradeXYZ against SunX−0.032%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2392.394% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now −0.032%, 7d avg −0.084%

Together, before fees−0.054%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and tradeXYZ is 0.052% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.084%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BX-USDT	126.84	0	get 0.0000% / 8h	7h 48m	$1K	$313K	10x
Short	tradeXYZ xyz:BX	126.80	0.0891	get 0.0111% / 1h	48m 34s	$670K	$196K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against SunX. 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 SunXbpFee tradeXYZbpOrdersPrice spread, now −0.032%Rate

Funding earned: $187.15
Price spread: −0.032% → −0.084%: $5.24
Slippage, 4 orders: −$213.4
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$47.01
Costs to cover: 2.394%
Break-even: 8.8 days

Slippage from SunX: live order book, 2 min ago; tradeXYZ: live order book, 8 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 SunX live order book, 2 min ago	46.91 bp	70.2 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	3.94 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
Aster BXUSDT	0.0000%	8h	126.59	−0.198%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.85	+0.008%	$489K	$867K	25x	as long as short
QFEX BX-USD	0.0000%	1h	126.64	−0.158%	$1.1M	$1.3M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.94	+0.079%	$425K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.85	+0.008%	$901K	$45K	20x	as long as short
SunX BX-USDTlong	0.0000%	8h	126.84	long leg	$1K	$313K	10x
HTX BX-USDT	0.0000%	8h	126.91	+0.055%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.72	+9.366%	$4K	$32K	12x	as long as short
OKX BX-USDT-SWAP	+0.0274%	8h	126.89	+0.039%	$164K	$113K	20x	as long as short
tradeXYZ xyz:BXshort	+0.0891%	1h	126.80	−0.032%	$670K	$196K	10x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.1143%	8h	126.57	−0.213%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.1246%	8h	126.83	−0.012%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1625%	8h	126.85	+0.010%	$797K	$484K	20x	as long as short
GRVT BX_USDT_Perp	+0.2520%	8h	126.85	+0.008%	$365	$123K	10x	as long as short