Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bybit+0.140%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$365as in the Funding arb table

Net, price: spread back to 7d avg − costs−$363as in the Price arb table

costs, in and out, $10k−$3663.663% of the position

Long on Bybit Short on BingX

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)−0.097%−$10 · spread now +0.140%, 7d avg +0.107%

Together, before fees−0.082%−$8 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 0.033% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOTUSDT	0.0005011	0.0100	pay 0.0050% / 4h	2h 18m	$2.1M	$794K	25x
Short	BingX NOT-USDC	0.0005018	0.0100	get 0.0050% / 4h	2h 18m	—	$733K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee BingXbpOrdersPrice spread, now +0.140%Rate

Funding earned: $0
Price spread: +0.140% → +0.107%: $3.27
Slippage, 4 orders: −$345.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$363.04
Costs to cover: 3.663%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BingX: 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 Bybit live order book, 2 min ago	4.99 bp	38.8 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.98 bp	153.8 bp −$154	doesn't fit	doesn't fit	doesn't fit

NOT on 16 exchanges

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 NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.734%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005029	+0.355%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005010	−0.020%	$333K	$69K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005020	+0.174%	$14K	$3K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005018	+0.150%	$2.0M	$2.8M	50x	as long as short
Bybit NOTUSDTlong	+0.0100%	4h	0.0005011	long leg	$2.1M	$794K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005019	+0.160%	$641K	$640K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005019	+0.160%	$141K	$58K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005018	+0.140%	$1.3M	$459K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005014	+0.060%	$495K	$133K	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NOTUSDT	+0.0100%	4h	0.0005020	+0.180%	$674K	$484K	50x	as long as short
BingX NOT-USDCshort	+0.0100%	4h	0.0005018	+0.140%	—	$733K	—
Variational Omni NOT	+0.0100%	4h	0.0005013	+0.039%	$71K	$38K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005017	+0.122%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0130%	4h	0.0005016	+0.100%	$108K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.1429%	1h	0.0005022	+0.220%	$49K	$5K	10x	as long as short