Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against BingX+0.024%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1071.072% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.024%, 7d avg +0.055%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.031% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08294	0.0100	pay 0.0050% / 4h	1h 35m	—	$6.6M	—
Short	MEXC INIT_USDT	0.08296	0.0100	get 0.0050% / 4h	1h 35m	$450K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.055%: −$3.11
Slippage, 4 orders: −$93.16
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$110.28
Costs to cover: 1.072%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; MEXC: live order book, 15 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, 2 min ago	8.45 bp	32.9 bp −$33	90.9 bp −$909	528.8 bp −$52.9K	830.0 bp −$415.0K
Sell MEXC live order book, 15 min ago	2.42 bp	11.9 bp −$12	79.8 bp −$798	252.2 bp −$25.2K	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08300	+0.070%	$302K	$229K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08300	+0.067%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08298	+0.047%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08292	−0.024%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08298	+0.048%	$137K	$667K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08287	−0.084%	$84K	$56K	25x	as long as short
MEXC INIT_USDTshort	+0.0100%	4h	0.08296	+0.024%	$450K	$210K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08294	0.000%	$329K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08299	+0.060%	$430K	$312K	25x	as long as short
BingX INIT-USDTlong	+0.0100%	4h	0.08294	long leg	—	$6.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08280	−0.170%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0114%	4h	0.08269	−0.301%	$152K	$112K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0240%	1h	0.08257	−0.448%	$3K	$19K	10x	as long as short