Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0843%/8h= +92.4% APRpaid last 24h −0.039%

Price spread now: SunX against tradeXYZ+0.032%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$2192.185% of the position

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.055%+$6 · spread now +0.032%, 7d avg +0.084%

Together, before fees+0.060%+ Points / potential airdroptradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.053% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.084%). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.005% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.3% 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	126.23	−0.0843	get 0.0105% / 1h	12m 47s	$664K	$210K	10x
Short	SunX BX-USDT	126.27	0	get 0.0000% / 8h	6h 12m	$308	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $177.12
Price spread: +0.032% → +0.084%: −$5.25
Slippage, 4 orders: −$192.5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$46.63
Costs to cover: 2.185%
Break-even: 8.8 days

Slippage from tradeXYZ: live order book, 34 min ago; SunX: live order book, 28 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, 34 min ago	2.77 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 28 min ago	47.48 bp	66.1 bp −$66	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:BXlong	−0.0843%	1h	126.23	long leg	$664K	$210K	10x
Aster BXUSDT	0.0000%	8h	126.24	+0.008%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.27	+0.032%	$485K	$865K	25x	as long as short
QFEX BX-USD	0.0000%	1h	127.04	+0.642%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.32	+0.071%	$423K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.38	+0.119%	$898K	$36K	20x	as long as short
SunX BX-USDTshort	0.0000%	8h	126.27	+0.032%	$308	$316K	10x
HTX BX-USDT	0.0000%	8h	126.37	+0.111%	$7K	$3K	20x	as long as short
OKX BX-USDT-SWAP	+0.0087%	8h	126.40	+0.135%	$164K	$114K	20x	as long as short
GRVT BX_USDT_Perp	+0.0140%	8h	126.30	+0.059%	$962	$117K	10x	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	+9.918%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0734%	8h	126.05	−0.143%	$114K	$1.0M	20x	as long as short
Variational Omni BX	+0.1029%	8h	126.25	+0.018%	$36K	$5K	—	as long as short
Binance BXUSDT	+0.1348%	8h	126.32	+0.071%	$786K	$482K	20x	as long as short