Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Bybit+0.049%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1351.352% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.049%, 7d avg +0.096%

Together, before fees+0.077%+$8 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: BingX is 0.047% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08158	0.0100	pay 0.0050% / 4h	2h 32m	$1.4M	$1.4M	25x
Short	BingX INIT-USDT	0.08162	0.0100	get 0.0050% / 4h	2h 32m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → +0.096%: −$4.74
Slippage, 4 orders: −$114.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$139.94
Costs to cover: 1.352%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BingX: live order book, 9 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 Bybit live order book, 3 min ago	6.74 bp	42.2 bp −$42	79.1 bp −$791	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	4.90 bp	26.2 bp −$26	76.0 bp −$760	514.0 bp −$51.4K	830.9 bp −$415.5K

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08162	+0.048%	$296K	$235K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08166	+0.098%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08167	+0.110%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTlong	+0.0100%	4h	0.08158	long leg	$1.4M	$1.4M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08183	+0.306%	$132K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08162	+0.049%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08168	+0.123%	$444K	$216K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08173	+0.184%	$325K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08162	+0.049%	$426K	$311K	25x	as long as short
BingX INIT-USDTshort	+0.0100%	4h	0.08162	+0.049%	—	$6.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08155	−0.034%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0158%	4h	0.08169	+0.135%	$154K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0536%	1h	0.08167	+0.109%	$6K	$17K	10x	as long as short