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
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Funding arb · Price arb / RWA

TWLO

RWAAll TWLO markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
BitgetTWLOUSDT
293.0400.0000% / 8h3h 03m$1.4M$116K20xLong Bitget
SHORT
BingXNCSKTWLO2USD-USDT
294.76−0.2080pay 0.2080% / 8h3h 03m$999K$1.2M—Short BingX
Price gap+0.587%
Funding gap−0.2080% /8h

The gap pays +$36 on $10k if it goes back to its 7d average, but funding costs $62 a day and eats that in about 14 hours. At the last 7 days' pace that is about 2.6 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$99−0.2080% /8h now · paid −0.989% over the last 7D
Price+$36spread +0.587% now, avg +0.223% → +0.364% if it goes back
Costs−$6226.223% of $10k · taker + slippage, in and out
Result−$685−6.85%no pointsWhat the last 7D really paid, hour by hour → backtest

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.989% in total, about −0.0471%/8h on average.

Price and funding

1h · loading 5m…
PRICE SPREAD · 7D
Now+0.587%
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

TWLO on 6 exchanges

lowest funding first

Before you open

2 ok · 3 to watch
  • Watch: Thin at this size292.2 / 145.3 bp
    At $10k entering Bitget costs 292.2 bp, fee and slippage, 2.0× BingX’s.
  • Note: Margin at max leverage$500 + —
    Bitget 20x, 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: −$62.40Long Bitget: 3 payments, $0.00; short BingX: 3 payments, −$62.40.
  • OK: Entry gap works for you+0.587% vs +0.223%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Short leg is thinner$999K vs $1.4M OI
    BingX sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBitget Yes · BingX Yes
    KYC mandatory since Sep 2023; unverified accounts can only withdraw and close positions.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0471%/8h × 21 periods−$98.88
Price spread+0.587% → +0.223% (7d avg)+$36.43
Slippage, 4 orderslive order books−$600.28
Fee Bitget bp × 2 orders−$12.00
Fee BingX bp × 2 orders−$10.00
Net · 7 days · $10k−$684.73
Costs to cover6.223%Break-evennever at this rate
Slippage: Bitget: live order book, 9 min ago; BingX: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBitget6.36292.2 bp−$292342.8 bp−$3,428doesn’t fitdoesn’t fit
SELL · SHORTBingX36.47145.3 bp−$145239.7 bp−$2,397495.2 bp−$49.5K1042.2 bp−$521.1K

Closing costs about the same again.

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