Funding arb · Price arb /

SQD

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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 0.000%

Price spread now: BingX against Bybit−0.310%7-day average +0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$1851.847% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.382%+$38 · spread now −0.310%, 7d avg +0.111%

Together, before fees+0.382%+$38 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 0.422% cheaper against Bybit than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SQDUSDT	0.02900	0.0100	pay 0.0050% / 4h	1h 10m	$894K	$380K	20x
Short	BingX SQD-USDT	0.02891	0.0100	get 0.0050% / 4h	1h 10m	—	$2.3M	—

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

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 BybitbpFee BingXbpOrdersPrice spread, now −0.310%Rate

Funding earned: $0
Price spread: −0.310% → +0.111%: −$42.16
Slippage, 4 orders: −$163.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$226.91
Costs to cover: 1.847%
Break-even: never at this rate

Slippage from Bybit: live order book, 49 min ago; BingX: live order book, 3 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, 49 min ago	6.95 bp	50.4 bp −$50	1656.4 bp −$16.6K	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	6.92 bp	45.8 bp −$46	105.9 bp −$1,059	957.2 bp −$95.7K	doesn't fit

SQD 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
BloFin SQD-USDT	+0.0077%	4h	0.02892	−0.276%	$81K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02891	−0.295%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02910	+0.341%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTlong	+0.0100%	4h	0.02900	long leg	$894K	$380K	20x
Gate SQD_USDT	+0.0100%	4h	0.02890	−0.345%	$609K	$31K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02909	+0.310%	$5.9M	$182K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02900	0.000%	$403K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02898	−0.069%	$741K	$57K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02891	−0.310%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02884	−0.554%	$11K	$52K	—	as long as short