Funding arb · Price arb /

S

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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 −0.006%

Price spread now: Bybit against BingX−0.075%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$940.941% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.075%, 7d avg −0.049%

Together, before fees+0.006%+$1 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 0.026% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04003	0.0100	pay 0.0050% / 4h	3h 09m	—	$6.7M	—
Short	Bybit SUSDT	0.04000	0.0100	get 0.0050% / 4h	3h 09m	$5.7M	$4.9M	50x

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 −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.049%: −$2.58
Slippage, 4 orders: −$73.09
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$96.67
Costs to cover: 0.941%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Bybit: 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 BingX live order book, 13 min ago	3.77 bp	21.4 bp −$21	59.8 bp −$598	482.7 bp −$48.3K	781.7 bp −$390.8K
Sell Bybit live order book, 4 min ago	1.25 bp	24.0 bp −$24	72.6 bp −$726	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.2019%	1h	0.04001	−0.048%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.1760%	1h	0.04000	−0.075%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−1.099%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−0.154%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04007	+0.112%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04002	−0.021%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04004	+0.034%	$617	—	150x	as long as short
Orderly PERP_S_USDC	+0.0025%	4h	0.04003	0.000%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.423%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04008	+0.125%	$164K	$192K	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	0.04004	+0.022%	$1.0M	$621K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04006	+0.079%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04004	+0.015%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04000	−0.075%	$5.7M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04002	−0.025%	$983K	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04002	−0.025%	$327K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04004	+0.025%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04007	+0.100%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04006	+0.075%	$1.2M	$2.4M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04003	long leg	—	$6.7M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04000	−0.075%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04003	+0.008%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0259%	1h	0.04010	+0.175%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04004	+0.025%	$270K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0748%	1h	0.04012	+0.225%	$67K	$10K	10x	as long as short