Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

SPXL

RWAAll SPXL markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
BybitSPXLUSDT
296.28+0.0173pay 0.0173% / 8h53m 29s$142K$43K25xLong Bybit
SHORT
BingXNCSKSPXL2USD-USDT
291.55+0.0132get 0.0132% / 8h53m 29s$281K$1.2M—Short BingX
Price gap−1.596%
Funding gap−0.0041% /8h

Both sides work against this direction now: funding costs $1 a day on $10k and the gap is 1.400% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$10−0.0041% /8h now · paid +0.096% over the last 7D
Price−$140spread −1.596% now, avg −0.196% → −1.400% if it goes back
Costs−$7487.477% of $10k · taker + slippage, in and out
Result−$878−8.78%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−1.596%
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

1 ok · 4 to watch
  • Watch: Thin at this size188.3 / 180.2 bp
    At $10k entering Bybit costs 188.3 bp, fee and slippage, 1.0× BingX’s.
  • Note: Margin at max leverage$400 + —
    Bybit 25x, BingX —. 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: −$1.23Long Bybit: 3 payments, −$5.19; short BingX: 3 payments, +$3.96.
  • Watch: Gap narrower than usual−1.596% vs −0.196%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$142K vs $281K OI
    Bybit sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBybit Yes · BingX Yes
    Standard verification is mandatory for every product.

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−1.596% → −0.196% (7d avg)−$140.05
Slippage, 4 orderslive order books−$726.71
Fee Bybit bp × 2 orders−$11.00
Fee BingX bp × 2 orders−$10.00
Net · 7 days · $10k−$878.18
Costs to cover7.477%Break-even649.4 days
Slippage: Bybit: live order book, 42 min ago; BingX: live order book, 9 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBybit5.56188.3 bp−$188doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTBingX7.72180.2 bp−$180454.8 bp−$4,548601.1 bp−$60.1K983.3 bp−$491.7K

Closing costs about the same again.

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