Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against MEXC0.000%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$960.955% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 7 days+0.064%+$6 · spread now 0.000%, 7d avg +0.047%

Together, before fees+0.191%+$19 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 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IO_USDT	0.1491	0.0100	pay 0.0050% / 4h	1h 50m	$1.2M	$224K	125x
Short	BingX IO-USDT	0.1491	0.0100	get 0.0050% / 4h	1h 50m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.047%: −$4.67
Slippage, 4 orders: −$81.51
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$100.18
Costs to cover: 0.955%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; BingX: live order book, 10 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 MEXC live order book, just now	6.71 bp	20.2 bp −$20	175.3 bp −$1,753	328.1 bp −$32.8K	doesn't fit
Sell BingX live order book, 10 min ago	10.02 bp	29.7 bp −$30	74.9 bp −$749	456.6 bp −$45.7K	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
BloFin IO-USDT	+0.0091%	4h	0.1495	+0.268%	$194K	$35K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1494	+0.168%	$992K	$272K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	+0.028%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1494	+0.201%	$3.0M	$5.1M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1491	0.000%	$1.1M	$691K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1492	+0.067%	$227K	$464K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1491	long leg	$1.2M	$224K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1492	+0.067%	$350K	$194K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1496	+0.335%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1491	0.000%	—	$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	0.1490	−0.084%	$30K	$20K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1494	+0.175%	$4K	$220K	5x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1499	+0.537%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8755%	1h	0.1488	−0.224%	$38K	$7K	10x	as long as short