Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX+0.184%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1471.469% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.184%, 7d avg +0.043%

Together, before fees−0.069%−$7 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: OKX is 0.141% dearer against BingX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08139	0.0100	pay 0.0050% / 4h	11m 41s	—	$6.6M	—
Short	OKX INIT-USDT-SWAP	0.08154	0.0100	get 0.0050% / 4h	11m 41s	$132K	$635K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.184%Rate

Funding earned: $0
Price spread: +0.184% → +0.043%: $14.11
Slippage, 4 orders: −$126.95
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$132.84
Costs to cover: 1.469%
Break-even: never at this rate

Slippage from BingX: live order book, 19 min ago; OKX: live order book, 18 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, 19 min ago	5.54 bp	27.0 bp −$27	75.9 bp −$759	553.2 bp −$55.3K	864.5 bp −$432.2K
Sell OKX live order book, 18 min ago	4.31 bp	43.0 bp −$43	doesn't fit	doesn't fit	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	0.08135	−0.044%	$294K	$239K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08135	−0.044%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08146	+0.086%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08139	0.000%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08154	+0.184%	$132K	$635K	10x
Gate INIT_USDT	+0.0100%	8h	0.08134	−0.061%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08144	+0.061%	$443K	$217K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08136	−0.037%	$323K	$56K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08144	+0.061%	$425K	$312K	25x	as long as short
BingX INIT-USDTlong	+0.0100%	4h	0.08139	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	0.08119	−0.248%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0111%	4h	0.08144	+0.061%	$157K	$109K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0397%	1h	0.08148	+0.111%	$6K	$18K	10x	as long as short