Funding arb · Price arb /

S

all S markets

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 +0.005%

Price spread now: BingX against Binance−0.073%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$880.880% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.073%, 7d avg −0.027%

Together, before fees+0.129%+$13 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 0.046% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SUSDT	0.04126	0.0100	pay 0.0050% / 4h	1h 11m	$5.7M	$13.8M	75x
Short	BingX S-USDT	0.04123	0.0100	get 0.0050% / 4h	1h 11m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → −0.027%: −$4.59
Slippage, 4 orders: −$67.96
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$92.56
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from Binance: live order book, 14 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 Binance live order book, 14 min ago	2.45 bp	22.7 bp −$23	60.6 bp −$606	2024.2 bp −$202.4K	doesn't fit
Sell BingX live order book, 7 min ago	4.86 bp	21.4 bp −$21	65.3 bp −$653	381.3 bp −$38.1K	790.6 bp −$395.3K

S on 25 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
01 Exchange SUSD	−1.1704%	1h	0.03970	−3.781%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1667%	1h	0.04122	−0.100%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−2.521%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04123	−0.075%	$1K	—	100x	as long as short
Variational Omni S	−0.0108%	4h	0.04110	−0.383%	$636K	$31K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04126	+0.001%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04123	−0.074%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.630%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0069%	4h	0.04123	−0.073%	$102K	$328K	10x	as long as short
Lighter S	+0.0096%	1h	0.04128	+0.048%	$173K	$157K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04126	−0.002%	$1.0M	$558K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04121	−0.115%	$45K	$133K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.04126	long leg	$5.7M	$13.8M	75x
Bybit SUSDT	+0.0100%	4h	0.04114	−0.291%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04118	−0.194%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04119	−0.170%	$338K	$201K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04126	0.000%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04122	−0.097%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04128	+0.048%	$1.2M	$2.1M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.04123	−0.073%	—	$6.7M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04120	−0.145%	$25K	$451K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04124	−0.056%	$231K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04121	−0.121%	$283K	$105K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0719%	1h	0.04130	+0.097%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1559%	1h	0.04130	+0.097%	$122K	$373K	5x	as long as short