Funding arb · Price arb /

ONG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0336%/8hnext payment −$1.68 per $10,000 · paid last 24h +0.042%

Price spread now: BingX against Gate−0.077%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1411.408% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.077%, 7d avg −0.028%

Together, before fees+0.369%+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BingX is 0.049% cheaper against Gate than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.028%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.300%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONG_USDT	0.09044	−0.1128	get 0.0564% / 4h	6m 22s	$363K	$352K	20x
Short	BingX ONG-USDT	0.09037	−0.1464	pay 0.0732% / 4h	6m 22s	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$70.56
Price spread: −0.077% → −0.028%: −$4.92
Slippage, 4 orders: −$115.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$216.27
Costs to cover: 1.408%
Break-even: never at this rate

Slippage from Gate: live order book, 23 min ago; BingX: live order book, 17 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 Gate live order book, 23 min ago	10.60 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 17 min ago	4.98 bp	19.8 bp −$20	45.7 bp −$457	266.9 bp −$26.7K	473.5 bp −$236.8K

ONG on 10 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
HTX ONG-USDT	−0.4005%	4h	0.09009	−0.387%	$28K	$115K	20x	as long as short
MEXC ONG_USDT	−0.1476%	4h	0.09029	−0.166%	$9.8M	$395K	20x	as long as short
Binance ONGUSDT	−0.1465%	4h	0.09032	−0.133%	$6.8M	$15.8M	50x	as long as short
Extended ONG-USD	−0.1464%	1h	0.09028	−0.175%	$170K	$18K	5x	as long as short
BingX ONG-USDTshort	−0.1464%	4h	0.09037	−0.077%	—	$1.3M	—
Bitget ONGUSDT	−0.1268%	4h	0.09035	−0.100%	$1.4M	$1.2M	50x	as long as short
Gate ONG_USDTlong	−0.1128%	4h	0.09044	long leg	$363K	$352K	20x
Aster ONGUSDT	−0.0329%	1h	0.09042	−0.027%	$76K	$111K	5x	as long as short
Variational Omni ONG	−0.0315%	4h	0.08996	−0.531%	$147K	$51K	—	as long as short
Bybit ONGUSDT	−0.0123%	4h	0.09041	−0.033%	$2.4M	$3.3M	20x	as long as short