Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0428%/8h= −46.9% APRpaid last 24h −0.117%

Price spread now: Coinbase International against BingX+0.071%53s7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.540% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.071%, 7d avg +0.125%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Coinbase International is 0.054% cheaper against BingX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.125%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.277% in total (about -14.5% 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	BingX FIL-USDC	0.9862	0.0100	pay 0.0100% / 8h	7h 30m	—	$6.5M	—
Short	Coinbase International FIL-PERP-INTX	0.9869	−0.0328	pay 0.0041% / 1h	30m 23s	$315K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$89.88
Price spread: +0.071% → +0.125%: −$5.4
Slippage, 4 orders: −$34.04
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$149.32
Costs to cover: 0.540%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Coinbase International: live order book, 3 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 BingX live order book, 5 min ago	1.01 bp	12.3 bp −$12	25.1 bp −$251	204.2 bp −$20.4K	645.7 bp −$322.9K
Sell Coinbase International live order book, 3 min ago	5.58 bp	13.0 bp −$13	17.6 bp −$176	doesn't fit	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0560%	1h	0.9869	+0.071%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0332%	1h	0.9868	+0.058%	$1.3M	$2.4M	50x	as long as short
Coinbase International FIL-PERP-INTXshort	−0.0328%	1h	0.9869	+0.071%	$315K	$1.8M	50x
OKX FIL-USDT-SWAP	−0.0042%	8h	0.9862	0.000%	$17.9M	$97.7M	50x	as long as short
KuCoin FILUSDTM	−0.0040%	8h	0.9869	+0.071%	$7.4M	$7.1M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9864	+0.021%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9875	+0.136%	$58K	$2K	10x	as long as short
Binance FILUSDT	+0.0029%	8h	0.9860	−0.020%	$56.8M	$177.8M	75x	as long as short
Extended FIL-USD	+0.0032%	1h	0.9858	−0.043%	$691K	$3.6M	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.071%	$2K	$240K	12x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0061%	8h	0.9861	−0.010%	$244K	$105K	50x	as long as short
Bitget FILUSDT	+0.0065%	8h	0.9861	−0.010%	$10.9M	$21.4M	75x	as long as short
Lighter FIL	+0.0096%	1h	0.9862	−0.004%	$159K	$346K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9867	+0.047%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9869	+0.066%	$503K	$553K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9862	0.000%	$15.3M	$18.2M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9864	+0.020%	$8.2M	$16.1M	50x	as long as short
BingX FIL-USDClong	+0.0100%	8h	0.9862	long leg	—	$6.5M	—
Variational Omni FIL	+0.0100%	8h	0.9865	+0.030%	$443K	$280K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9847	−0.150%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9856	−0.065%	$291K	$812K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9870	+0.081%	$30K	$195K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9871	+0.094%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9860	−0.020%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9860	−0.020%	$491	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9876	+0.142%	$629K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9860	−0.020%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0116%	8h	0.9864	+0.020%	$2.6M	$575K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0539% / S −0.0538%	1h	0.9865	+0.031%	$196K	—	100x	as long as short