SPXL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BingXNCSKSPXL2USD-USDT	291.70	+0.0258	pay 0.0258% / 8h	1h 41m	$281K	$1.2M	—	Long BingX
SHORT	BybitSPXLUSDT	296.66	+0.0354	get 0.0354% / 8h	1h 41m	$143K	$44K	25x	Short Bybit

Price gap+1.700%

Funding gap+0.0096% /8h

Both sides work: funding pays +$3 a day on $10k, and the gap is 1.504% above its 7d average: +$150 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$10+0.0096% /8h now · paid −0.096% over the last 7D

Price+$150spread +1.700% now, avg +0.196% → +1.504% if it goes back

Costs−$6316.313% of $10k · taker + slippage, in and out

Result−$490−4.90%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+1.700%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SPXL on 2 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

Watch: Thin at this size117.7 / 196.2 bp
At $10k entering Bybit costs 196.2 bp, fee and slippage, 1.7× BingX’s.
Note: Margin at max leverage— + $400
BingX —, Bybit 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval8h / 8h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$2.89Long BingX: 3 payments, −$7.74; short Bybit: 3 payments, +$10.63.
OK: Entry gap works for you+1.700% vs +0.196%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$143K vs $281K OI
Bybit sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBingX Yes · Bybit Yes
Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0046%/8h × 21 periods−$9.57

Price spread+1.700% → +0.196% (7d avg)+$150.40

Slippage, 4 orderslive order books−$610.27

Fee BingX bp × 2 orders−$10.00

Fee Bybit bp × 2 orders−$11.00

Net · 7 days · $10k−$490.44

Costs to cover6.313%Break-evennever at this rate

Slippage: BingX: live order book, 1 min ago; Bybit: live order book, 59 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBingX6.17117.7 bp−$118261.8 bp−$2,618417.4 bp−$41.7K794.7 bp−$397.3K

SELL · SHORTBybit0.17196.2 bp−$196doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.