Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.098%

Price spread now: BingX against Coinbase International−0.845%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and BingX is 0.845% cheaper against Coinbase International than usual: you would sell low and buy high (−$85 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALT-PERP-INTX	0.007691	0.0488	pay 0.0061% / 1h	49m 23s	$14K	$3K	50x
Short	BingX ALT-USDT	0.007626	0.0100	get 0.0050% / 4h	3h 49m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now −0.845%Rate

Funding earned: −$81.48
Price spread: −0.845% → 0.000%: −$84.51
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$185.99
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; BingX: live order book, 7 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell BingX live order book, 7 min ago	3.94 bp	21.1 bp −$21	61.1 bp −$611	507.2 bp −$50.7K	743.5 bp −$371.8K

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ALT 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
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	0.000%	$837	$4K	5.5x	as long as short
Kraken Futures PF_ALTUSD	+0.0042%	1h	0.007635	−0.728%	$45K	$8K	10x	as long as short
BloFin ALT-USDT	+0.0059%	4h	0.007632	−0.767%	$175K	$11K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007619	−0.936%	$1.1M	$148K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007622	−0.894%	$2.7M	$3.7M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007617	−0.962%	$1.2M	$1.9M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007627	−0.832%	$50K	$378K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007623	−0.884%	$386K	$177K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007628	−0.819%	$151K	$20K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007623	−0.884%	$614K	$127K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDTshort	+0.0100%	4h	0.007626	−0.845%	—	$1.3M	—
Variational Omni ALT	+0.0100%	4h	0.007625	−0.856%	$4K	$16K	—	as long as short
Deribit ALT_USDC-PERPETUAL	+0.0143%	1h	0.007636	−0.715%	—	$0	25x	as long as short
Coinbase International ALT-PERP-INTXlong	+0.0488%	1h	0.007691	long leg	$14K	$3K	50x