Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1518%/8h= −166.2% APRpaid last 24h −0.141%

Price spread now: tradeXYZ against Binance−0.090%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 2 days (all we have)−0.031%−$3 · spread now −0.090%, 7d avg −0.080%

Together, before fees−0.113%+ Points / potential airdroptradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.080%, so right now this pair is about funding alone: −$46 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BXUSDT	126.25	0.1025	pay 0.1025% / 8h	5h 23m	$782K	$486K	20x
Short	tradeXYZ xyz:BX	126.14	−0.0493	pay 0.0062% / 1h	23m 54s	$664K	$212K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$318.72
Price spread: −0.090% → −0.080%: −$0.95
Slippage, 4 orders: −$105.3
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$452.97
Costs to cover: 1.333%
Break-even: never at this rate

Slippage from Binance: live order book, 53 min ago; tradeXYZ: live order book, 13 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, 53 min ago	3.56 bp	38.0 bp −$38	158.2 bp −$1,582	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 13 min ago	3.17 bp	29.5 bp −$29	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXshort	−0.0493%	1h	126.14	−0.090%	$664K	$212K	10x
Aster BXUSDT	0.0000%	8h	126.18	−0.055%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.28	+0.021%	$485K	$834K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.35	+0.077%	$164K	$114K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.05	+0.631%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.35	+0.077%	$424K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.41	+0.124%	$898K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.26	+0.005%	$364	$113K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.21	−0.034%	$820	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.31	+0.045%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.75	+9.898%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0424%	8h	126.03	−0.177%	$114K	$993K	20x	as long as short
Variational Omni BX	+0.0761%	8h	126.21	−0.035%	$43K	$12K	—	as long as short
Binance BXUSDTlong	+0.1025%	8h	126.25	long leg	$782K	$486K	20x