Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0346%/8h= +37.9% APRpaid last 24h −0.011%

Price spread now: SunX against tradeXYZ0.000%7-day average +0.082% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now 0.000%, 7d avg +0.082%

Together, before fees+0.109%+ Points / potential airdroptradeXYZ: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.082% cheaper against tradeXYZ than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.082%). If the spread goes back, that is −$8 on $10k: about 19 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.034% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.034% in total (about 1.8% 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	126.21	−0.0346	get 0.0043% / 1h	42m 53s	$664K	$216K	10x
Short	SunX BX-USDT	126.21	0	get 0.0000% / 8h	3h 42m	$607	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $72.68
Price spread: 0.000% → +0.082%: −$8.24
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: $38.45
Costs to cover: 0.260%
Break-even: 3.3 days

Slippage unknown: tradeXYZ: live order book, 44 min ago; SunX: live order book, 38 min ago. Net counts fees only.

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, 44 min ago	2.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 38 min ago	45.92 bp	101.4 bp −$101	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
tradeXYZ xyz:BXlong	−0.0346%	1h	126.21	long leg	$664K	$216K	10x
Aster BXUSDT	0.0000%	8h	126.16	−0.037%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.23	+0.016%	$483K	$802K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.24	+0.024%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.01	+0.634%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.35	+0.111%	$422K	$28K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.40	+0.151%	$899K	$37K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.26	+0.040%	$328	$109K	10x	as long as short
SunX BX-USDTshort	0.0000%	8h	126.21	0.000%	$607	$316K	10x
HTX BX-USDT	0.0000%	8h	126.31	+0.079%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0100%	8h	126.09	−0.095%	$115K	$908K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.928%	$4K	$32K	12x	as long as short
Variational Omni BX	+0.0223%	8h	126.18	−0.021%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0360%	8h	126.21	−0.003%	$778K	$489K	20x	as long as short