Funding arb · Price arb /

INIT

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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: BingX against MEXC+0.024%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

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

costs, in and out, $10k−$1131.131% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.024%, 7d avg −0.056%

Together, before fees−0.018%−$2 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 0.080% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08224	0.0100	pay 0.0050% / 4h	46m 37s	$442K	$210K	20x
Short	BingX INIT-USDT	0.08226	0.0100	get 0.0050% / 4h	46m 37s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → −0.056%: $7.99
Slippage, 4 orders: −$99.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$105.11
Costs to cover: 1.131%
Break-even: never at this rate

Slippage from MEXC: live order book, 64 min ago; BingX: live order book, 5 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 MEXC live order book, 64 min ago	2.42 bp	17.4 bp −$17	87.7 bp −$877	273.9 bp −$27.4K	doesn't fit
Sell BingX live order book, 5 min ago	8.48 bp	41.1 bp −$41	81.7 bp −$817	474.8 bp −$47.5K	765.6 bp −$382.8K

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
Kraken Futures PF_INITUSD	−0.5698%	1h	0.08188	−0.435%	$3K	$19K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08222	−0.027%	$303K	$230K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08238	+0.176%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08225	+0.014%	$3.3M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08220	−0.049%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08243	+0.231%	$136K	$660K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08240	+0.195%	$83K	$56K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08224	long leg	$442K	$210K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08233	+0.109%	$323K	$56K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08230	+0.073%	$427K	$308K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDTshort	+0.0100%	4h	0.08226	+0.024%	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08247	+0.280%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0144%	4h	0.08239	+0.182%	$151K	$112K	25x	as long as short