Funding arb · Price arb /

IO

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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: Binance against BingX+0.121%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$940.945% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 7 days−0.134%−$13 · spread now +0.121%, 7d avg +0.010%

Together, before fees−0.205%−$20 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: Binance is 0.111% dearer against BingX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IO-USDT	0.1506	0.0100	pay 0.0050% / 4h	46m 07s	—	$1.3M	—
Short	Binance IOUSDT	0.1508	0.0100	get 0.0050% / 4h	46m 07s	$3.0M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.010%: $11.13
Slippage, 4 orders: −$74.47
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$83.34
Costs to cover: 0.945%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Binance: live order book, 8 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, 13 min ago	9.94 bp	20.9 bp −$21	58.7 bp −$587	454.7 bp −$45.5K	679.3 bp −$339.6K
Sell Binance live order book, 8 min ago	3.30 bp	22.1 bp −$22	95.8 bp −$958	doesn't fit	doesn't fit

IO 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
BloFin IO-USDT	+0.0064%	4h	0.1510	+0.266%	$193K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1507	+0.053%	$1.0M	$376K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1508	+0.121%	$23K	$49K	5x	as long as short
Binance IOUSDTshort	+0.0100%	4h	0.1508	+0.121%	$3.0M	$6.6M	50x
Bybit IOUSDT	+0.0100%	4h	0.1506	0.000%	$1.1M	$913K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1506	−0.013%	$229K	$546K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1506	0.000%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1507	+0.066%	$359K	$655K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1509	+0.199%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1506	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1505	−0.085%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1507	+0.095%	$2K	$134K	5x	as long as short
Injective IO/USDC PERP	+0.0583%	1h	0.1512	+0.398%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.7337%	1h	0.1506	−0.023%	$39K	$18K	10x	as long as short