Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1517%/8h= +166.1% APRpaid last 24h +0.141%

Price spread now: Binance against tradeXYZ+0.097%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

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

Long on tradeXYZ Short on Binance

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)+0.023%+$2 · spread now +0.097%, 7d avg +0.080%

Together, before fees+0.105%+ 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	tradeXYZ xyz:BX	126.14	−0.0492	get 0.0062% / 1h	24m 25s	$664K	$212K	10x
Short	Binance BXUSDT	126.26	0.1025	get 0.1025% / 8h	5h 24m	$782K	$486K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.097%Rate

Funding earned: $318.59
Price spread: +0.097% → +0.080%: $1.72
Slippage, 4 orders: −$105.3
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $187.01
Costs to cover: 1.333%
Break-even: 2.9 days

Slippage from tradeXYZ: live order book, 12 min ago; Binance: live order book, 53 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 tradeXYZ live order book, 12 min ago	3.17 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 53 min ago	3.56 bp	27.5 bp −$28	131.2 bp −$1,312	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:BXlong	−0.0492%	1h	126.14	long leg	$664K	$212K	10x
Aster BXUSDT	0.0000%	8h	126.17	+0.026%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.28	+0.111%	$485K	$834K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.35	+0.166%	$164K	$114K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.05	+0.721%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.35	+0.166%	$424K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.42	+0.222%	$898K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.26	+0.094%	$364	$113K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.21	+0.055%	$820	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.31	+0.135%	$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	+9.997%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0424%	8h	126.04	−0.079%	$114K	$994K	20x	as long as short
Variational Omni BX	+0.0761%	8h	126.21	+0.055%	$43K	$12K	—	as long as short
Binance BXUSDTshort	+0.1025%	8h	126.26	+0.097%	$782K	$486K	20x