Funding arb · Price arb /

IO

all IO 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: Bybit against BingX0.000%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$200as in the Price arb table

costs, in and out, $10k−$2052.047% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 7 days−0.025%−$3 · spread now 0.000%, 7d avg −0.050%

Together, before fees−0.151%−$15 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: Bybit is 0.050% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IO-USDT	0.1518	0.0100	pay 0.0050% / 4h	1h 36m	—	$1.3M	—
Short	Bybit IOUSDT	0.1518	0.0100	get 0.0050% / 4h	1h 36m	$1.1M	$912K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.050%: $4.98
Slippage, 4 orders: −$183.71
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$199.73
Costs to cover: 2.047%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Bybit: live order book, 4 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, 9 min ago	6.59 bp	25.5 bp −$26	75.3 bp −$753	458.5 bp −$45.9K	552.5 bp −$276.2K
Sell Bybit live order book, 4 min ago	6.60 bp	71.5 bp −$72	doesn't fit	doesn't fit	doesn't fit

IO on 14 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
Injective IO/USDC PERP	−0.0430%	1h	0.1518	0.000%	$2K	$201	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1519	+0.059%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1518	−0.021%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1520	+0.132%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTshort	+0.0100%	4h	0.1518	0.000%	$1.1M	$912K	25x
Gate IO_USDT	+0.0100%	4h	0.1516	−0.152%	$233K	$560K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1518	0.000%	$1.2M	$225K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1516	−0.132%	$355K	$659K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1519	+0.066%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1518	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1515	−0.217%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1520	+0.103%	$1K	$132K	5x	as long as short
BloFin IO-USDT	+0.0142%	4h	0.1516	−0.132%	$193K	$40K	50x	as long as short
Kraken Futures PF_IOUSD	+2.3360%	1h	0.1520	+0.161%	$39K	$18K	10x	as long as short