INIT

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.086%

7d average—if it closes, per $10,000$9funding while held, a day+$0.00

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08124	0.0100	pay 0.0050% / 4h	1h 08m	—	$6.6M	—
Short	Gate INIT_USDT	0.08117	0.0100	get 0.0100% / 8h	5h 08m	$82K	$56K	25x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee BingXbpFee GatebpOrdersClose when spread is

Spread captured: −$8.62
Funding while held: $0
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$33.62
Spread needed to break even: 0.250%

Slippage unknown: BingX: live order book, 5 min ago; Gate: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: 0.0000%
Per $10,000 a day: +$0.00
Average in range /8h: —

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, 5 min ago	5.55 bp	29.1 bp −$29	79.2 bp −$792	559.4 bp −$55.9K	880.0 bp −$440.0K
Sell Gate no order-book sample	—	—	—	—	—

Gate: 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.

INIT price on every exchange

against the cheapest. Click to use as the short leg.

Variational Omni0.08112cheapest Bybit0.08117+0.057%

Gate0.08117+0.057%

KuCoin0.08119+0.082%Hyperliquid0.08121+0.103%Aster0.08122+0.117%Kraken Futures0.08123+0.137%

BingX0.08124+0.143%

Bitget0.08125+0.156%MEXC0.08126+0.168%BloFin0.08126+0.168%OKX0.08127+0.180%Binance0.08129+0.199%

INIT on 13 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni INIT	−0.143%	+0.0100%	4h	$26K	$23K	—	as long as short
Bybit INITUSDT	−0.086%	+0.0100%	4h	$1.4M	$1.4M	25x	as long as short
Gate INIT_USDTshort	−0.086%	+0.0100%	8h	$82K	$56K	25x
KuCoin INITUSDTM	−0.062%	+0.0100%	4h	$323K	$57K	25x	as long as short
Hyperliquid INIT	−0.041%	+0.0100%	1h	$293K	$239K	3x	as long as short
Aster INITUSDT	−0.026%	+0.0100%	4h	$27K	$36K	5x	as long as short
Kraken Futures PF_INITUSD	−0.007%	+0.0371%	1h	$6K	$18K	10x	as long as short
BingX INIT-USDTlong	0.000%	+0.0100%	4h	—	$6.6M	—
Bitget INITUSDT	+0.012%	+0.0100%	4h	$424K	$313K	25x	as long as short
MEXC INIT_USDT	+0.025%	+0.0100%	4h	$440K	$216K	20x	as long as short

Show all 13 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin INIT-USDT	+0.025%	+0.0134%	4h	$159K	$107K	25x	as long as short
OKX INIT-USDT-SWAP	+0.037%	+0.0100%	4h	$132K	$636K	10x	as long as short
Binance INITUSDT	+0.056%	+0.0100%	4h	$3.4M	$3.7M	25x	as long as short