Funding arb · Price arb /

NOT

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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 −0.004%

Price spread now: Bybit against BingX−0.079%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$344as in the Funding arb table

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3423.420% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.079%, 7d avg −0.106%

Together, before fees+0.021%+$2 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 0.028% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NOT-USDC	0.0005090	0.0100	pay 0.0050% / 4h	3h 51m	—	$722K	—
Short	Bybit NOTUSDT	0.0005086	0.0100	get 0.0050% / 4h	3h 51m	$2.1M	$856K	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 −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.106%: $2.78
Slippage, 4 orders: −$321
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$339.22
Costs to cover: 3.420%
Break-even: never at this rate

Slippage from BingX: live order book, 52 min ago; Bybit: live order book, 5 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, 52 min ago	5.96 bp	128.0 bp −$128	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.97 bp	35.3 bp −$35	132.8 bp −$1,328	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	−0.0387%	4h	0.0005057	−0.656%	$72K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0254%	4h	0.0005082	−0.157%	$474K	$130K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.244%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005101	+0.222%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005090	0.000%	$361K	$54K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005091	+0.012%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005092	+0.039%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDTshort	+0.0100%	4h	0.0005086	−0.079%	$2.1M	$856K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005096	+0.118%	$644K	$671K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005087	−0.059%	$141K	$69K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005092	+0.039%	$1.4M	$438K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005092	+0.039%	$675K	$413K	50x	as long as short
BingX NOT-USDClong	+0.0100%	4h	0.0005090	long leg	—	$722K	—
Extended kNOT-USD	+0.0104%	1h	0.0005090	+0.006%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0135%	4h	0.0005098	+0.157%	$111K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.1115%	1h	0.0005126	+0.706%	$50K	$7K	10x	as long as short