Funding arb · Price arb /

CFX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.078%

Price spread now: BingX against Coinbase International−0.112%7-day average −0.204% · you buy dearer than you sell

Net, funding: paid 7d − costs−$871as in the Funding arb table

Net, price: spread back to 7d avg − costs−$836as in the Price arb table

costs, in and out, $10k−$8468.456% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.112%, 7d avg −0.204%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.092% dearer against Coinbase International than usual: you sell high and buy low (spread −0.112% now, against its 7-day average of −0.204%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CFX-PERP-INTX	0.05376	0.0248	pay 0.0031% / 1h	36m 08s	$44K	$125K	50x
Short	BingX CFX-USDT	0.05370	0.0100	get 0.0100% / 8h	5h 36m	—	$20.2M	—

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 −0.112%Rate

Funding earned: −$31.08
Price spread: −0.112% → −0.204%: $9.23
Slippage, 4 orders: −$825.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$867.42
Costs to cover: 8.456%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 27 min ago; BingX: live order book, 2 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 Coinbase International live order book, 27 min ago	19.48 bp	806.2 bp −$806	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.93 bp	8.2 bp −$8	15.5 bp −$155	51.3 bp −$5,125	311.0 bp −$155.5K

CFX on 16 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
Aster CFXUSDT	+0.0100%	8h	0.05370	−0.110%	$5K	$43K	5x	as long as short
Binance CFXUSDT	+0.0100%	8h	0.05375	−0.019%	$5.3M	$10.3M	75x	as long as short
Bybit CFXUSDT	+0.0100%	8h	0.05376	0.000%	$2.4M	$1.4M	25x	as long as short
OKX CFX-USDT-SWAP	+0.0100%	8h	0.05371	−0.093%	$2.5M	$5.7M	20x	as long as short
Gate CFX_USDT	+0.0100%	8h	0.05372	−0.074%	$1.1M	$2.5M	50x	as long as short
MEXC CFX_USDT	+0.0100%	8h	0.05375	−0.019%	$3.1M	$1.7M	125x	as long as short
KuCoin CFXUSDTM	+0.0100%	8h	0.05370	−0.112%	$882K	$283K	75x	as long as short
Bitget CFXUSDT	+0.0100%	8h	0.05377	+0.019%	$1.6M	$1.4M	75x	as long as short
BingX CFX-USDTshort	+0.0100%	8h	0.05370	−0.112%	—	$20.2M	—
Variational Omni CFX	+0.0100%	8h	0.05376	−0.001%	$42K	$45K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CFX_USDT_Perp	+0.0100%	8h	0.05359	−0.318%	$508K	$1.7M	10x	as long as short
Extended CFX-USD	+0.0104%	1h	0.05373	−0.061%	$4K	$266K	10x	as long as short
Coinbase International CFX-PERP-INTXlong	+0.0248%	1h	0.05376	long leg	$44K	$125K	50x
Hyperliquid CFX	+0.0989%	1h	0.05384	+0.154%	$3.2M	$362K	5x	as long as short
Kraken Futures PF_CFXUSD	+0.1432%	1h	0.05376	+0.006%	$32K	$19K	20x	as long as short
Deribit CFX_USDC-PERPETUAL	+0.3472%	1h	0.05394	+0.335%	$142	$29	10x	as long as short