Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0818%/8h= +89.5% APRpaid last 24h +0.126%

Price spread now: Binance against tradeXYZ+0.126%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1111.112% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 2 days (all we have)+0.003%$0 · spread now +0.126%, 7d avg +0.086%

Together, before fees+0.083%+ Points / potential airdroptradeXYZ: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Binance is 0.040% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.086%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% 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	tradeXYZ xyz:BX	126.77	0.0797	pay 0.0100% / 1h	52m 26s	$671K	$195K	10x
Short	Binance BXUSDT	126.93	0.1614	get 0.1614% / 8h	7h 52m	$798K	$484K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.126%Rate

Funding earned: $171.7
Price spread: +0.126% → +0.086%: $3.99
Slippage, 4 orders: −$83.2
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $64.49
Costs to cover: 1.112%
Break-even: 4.4 days

Slippage from tradeXYZ: live order book, 4 min ago; Binance: live order book, 55 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 tradeXYZ live order book, 4 min ago	3.94 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 55 min ago	1.18 bp	33.3 bp −$33	145.6 bp −$1,456	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	126.66	−0.086%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.92	+0.118%	$490K	$866K	25x	as long as short
QFEX BX-USD	0.0000%	1h	126.85	+0.063%	$1.1M	$1.3M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.90	+0.103%	$425K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.90	+0.103%	$901K	$45K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.87	+0.079%	$957	$312K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.95	+0.142%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.72	+9.427%	$4K	$32K	12x	as long as short
OKX BX-USDT-SWAP	+0.0284%	8h	126.81	+0.032%	$164K	$113K	20x	as long as short
tradeXYZ xyz:BXlong	+0.0797%	1h	126.77	long leg	$671K	$195K	10x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BX_USDT_Perp	+0.0826%	8h	126.69	−0.064%	$1K	$123K	10x	as long as short
KuCoin BXUSDTM	+0.1153%	8h	126.68	−0.071%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.1226%	8h	126.68	−0.069%	$31K	$127	—	as long as short
Binance BXUSDTshort	+0.1614%	8h	126.93	+0.126%	$798K	$484K	20x