Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against BingX−0.027%7-day average −0.185% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1211.208% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 7 days−0.199%−$20 · spread now −0.027%, 7d avg −0.185%

Together, before fees−0.462%−$46 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.158% dearer against BingX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.185%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX H-USDT	0.07086	0.0100	pay 0.0050% / 4h	3h 57m	—	$2.7M	—
Short	Bybit HUSDT	0.07084	0.0100	get 0.0050% / 4h	3h 57m	$7.7M	$4.6M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → −0.185%: $15.83
Slippage, 4 orders: −$99.76
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$104.93
Costs to cover: 1.208%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Bybit: live order book, 1 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, 12 min ago	4.98 bp	16.4 bp −$16	128.6 bp −$1,286	1080.5 bp −$108.0K	1377.8 bp −$688.9K
Sell Bybit live order book, 1 min ago	1.42 bp	41.6 bp −$42	191.6 bp −$1,916	doesn't fit	doesn't fit

H 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 H/USDC PERP	+0.0033%	1h	0.06250	−11.798%	$1K	$1	5.5x	as long as short
Aster HUSDT	+0.0100%	4h	0.07083	−0.046%	$117K	$55K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.07095	+0.125%	$15.2M	$10.6M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.07084	−0.027%	$7.7M	$4.6M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.07095	+0.127%	$1.8M	$6.1M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.07079	−0.099%	$2.9M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.07094	+0.113%	$6.4M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.07084	−0.028%	$1.7M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.07081	−0.071%	$1.8M	$452K	4x	as long as short
BingX H-USDTlong	+0.0100%	4h	0.07086	long leg	—	$2.7M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.07070	−0.225%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.07089	+0.042%	$1.2M	$437K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.07090	+0.051%	$12K	$102K	5x	as long as short
BloFin H-USDT	+0.0129%	4h	0.07075	−0.155%	$596K	$118K	25x	as long as short