Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.4212%/8h= −461.2% APRpaid last 24h −0.297%

Price spread now: Deribit against BingX−0.291%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.068%−$107 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now −0.291%, 7d avg +0.070%

Together, before fees−0.755%−$76 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$126 a day on $10k at the current rate, and Deribit is 0.361% cheaper against BingX than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.068% in total (about -55.7% 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	BingX DOT-USDT	1.1676	0.0100	pay 0.0100% / 8h	7h 58m	—	$9.5M	—
Short	Deribit DOT_USDC-PERPETUAL	1.1642	−0.4112	pay 0.0514% / 1h	58m 30s	$249K	$162K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now −0.291%Rate

Funding earned: −$884.52
Price spread: −0.291% → +0.070%: −$36.12
Slippage, 4 orders: −$19.58
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$957.23
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Deribit: live order book, 40 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 BingX live order book, 10 min ago	0.43 bp	5.4 bp −$5	12.3 bp −$123	23.3 bp −$2,326	92.3 bp −$46.1K
Sell Deribit live order book, 40 min ago	6.89 bp	13.6 bp −$14	22.7 bp −$227	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUALshort	−0.4112%	1h	1.1642	−0.291%	$249K	$162K	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1650	−0.223%	$252	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1681	+0.043%	$141K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1649	−0.227%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+2.946%	$328	$121K	12x	as long as short
Coinbase International DOT-PERP-INTX	+0.0072%	1h	1.1660	−0.137%	$170K	$2.0M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1674	−0.020%	$245K	$671K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1677	+0.009%	$5.5M	$4.6M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1674	−0.013%	$842K	$608K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1677	+0.006%	$42.5M	$89.2M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDT	+0.0100%	8h	1.1670	−0.051%	$23.7M	$20.4M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1670	−0.051%	$9.0M	$25.5M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1680	+0.034%	$6.6M	$11.8M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1674	−0.017%	$29.3M	$64.0M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1673	−0.026%	$6.2M	$9.4M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1670	−0.051%	$22.4M	$14.5M	75x	as long as short
BingX DOT-USDTlong	+0.0100%	8h	1.1676	long leg	—	$9.5M	—
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1663	−0.111%	$86K	$132K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1655	−0.180%	$530K	$50K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1646	−0.255%	$34K	$337K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1660	−0.136%	$229K	$437K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1650	−0.223%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1674	−0.017%	$2K	$1.4M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1681	+0.043%	$263K	$283K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1671	−0.040%	$16K	$273K	25x	as long as short
Phemex DOTUSDT	+0.0193%	8h	1.1670	−0.051%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1642	−0.291%	$1.9M	$900K	75x	as long as short
Kraken Futures PF_DOTUSD	+0.0245%	1h	1.1660	−0.137%	$4.4M	$1.5M	50x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0291% / S −0.0937%	1h	1.1651	−0.212%	$20K	—	100x	as long as short