INIT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0059%/8h= −6.5% APRnext payment −$0.30 per $10,000 · paid last 24h −0.003%

Price spread now: BingX against BloFin+0.048%51s7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as 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−$1271.272% of the position

Long on BloFin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.048%, 7d avg −0.069%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.117% dearer against BloFin than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.069%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.6 days. At the pace of the last 7 days (−0.004% in total) that is about 6 months. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin INIT-USDT	0.08278	0.0159	pay 0.0080% / 4h	3h 00m	$152K	$110K	25x
Short	BingX INIT-USDT	0.08282	0.0100	get 0.0050% / 4h	3h 00m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against BloFin. 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 BloFinbpFee BingXbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$12.48
Price spread: +0.048% → −0.069%: $11.68
Slippage, 4 orders: −$105.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$127.98
Costs to cover: 1.272%
Break-even: never at this rate

Slippage from BloFin: live order book, 19 min ago; BingX: live order book, 7 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 BloFin live order book, 19 min ago	5.99 bp	26.2 bp −$26	76.3 bp −$763	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	7.23 bp	37.4 bp −$37	92.5 bp −$925	521.5 bp −$52.2K	824.1 bp −$412.0K

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
Kraken Futures PF_INITUSD	−0.5393%	1h	0.08288	+0.120%	$5K	$24K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08285	+0.085%	$309K	$238K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08280	+0.022%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08284	+0.071%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08275	−0.036%	$1.4M	$1.7M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08280	+0.024%	$138K	$736K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08276	−0.024%	$81K	$59K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08281	+0.036%	$443K	$212K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08259	−0.230%	$320K	$63K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08284	+0.072%	$426K	$337K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDTshort	+0.0100%	4h	0.08282	+0.048%	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08275	−0.036%	$26K	$14K	—	as long as short
BloFin INIT-USDTlong	+0.0159%	4h	0.08278	long leg	$152K	$110K	25x