Funding arb · Price arb /

IO

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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: BingX against Bitget+0.066%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.231%−$23 · spread now +0.066%, 7d avg −0.077%

Together, before fees−0.231%−$23 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: BingX is 0.143% dearer against Bitget than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1523	0.0100	pay 0.0050% / 4h	3h 58m	$1.3M	$1.2M	50x
Short	BingX IO-USDT	0.1524	0.0100	get 0.0050% / 4h	3h 58m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → −0.077%: $14.26
Slippage, 4 orders: −$80.67
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$88.41
Costs to cover: 1.027%
Break-even: never at this rate

Slippage from Bitget: live order book, 8 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 Bitget live order book, 8 min ago	3.29 bp	21.8 bp −$22	201.7 bp −$2,017	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	6.59 bp	23.2 bp −$23	67.7 bp −$677	458.5 bp −$45.8K	571.3 bp −$285.7K

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
Hyperliquid IO	+0.0100%	1h	0.1523	+0.013%	$1.0M	$392K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1523	−0.013%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1523	0.000%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1522	−0.066%	$1.1M	$897K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1522	−0.072%	$242K	$543K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1522	−0.066%	$1.2M	$229K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1522	−0.066%	$376K	$671K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1523	long leg	$1.3M	$1.2M	50x
BingX IO-USDTshort	+0.0100%	4h	0.1524	+0.066%	—	$1.3M	—
Variational Omni IO	+0.0100%	4h	0.1524	+0.052%	$33K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1522	−0.035%	$5K	$168K	5x	as long as short
BloFin IO-USDT	+0.0131%	4h	0.1522	−0.066%	$192K	$32K	50x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1519	−0.263%	$2K	$101	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.0616%	1h	0.1532	+0.563%	$40K	$19K	10x	as long as short