Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against MEXC+0.067%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1031.032% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 7 days−0.055%−$5 · spread now +0.067%, 7d avg +0.047%

Together, before fees+0.072%+$7 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 0.020% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IO_USDT	0.1489	0.0100	pay 0.0050% / 4h	2h 53m	$1.2M	$212K	125x
Short	BingX IO-USDT	0.1490	0.0100	get 0.0050% / 4h	2h 53m	—	$1.3M	—

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 +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.047%: $2.01
Slippage, 4 orders: −$89.17
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$101.16
Costs to cover: 1.032%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; BingX: live order book, 3 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, 3 min ago	6.66 bp	32.9 bp −$33	188.3 bp −$1,883	376.4 bp −$37.6K	doesn't fit
Sell BingX live order book, 3 min ago	6.65 bp	29.8 bp −$30	70.1 bp −$701	448.2 bp −$44.8K	711.9 bp −$356.0K

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
Injective IO/USDC PERP	+0.0033%	1h	0.1492	+0.201%	$2K	$192	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1490	+0.094%	$995K	$272K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	+0.107%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1491	+0.123%	$3.0M	$4.8M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1488	−0.060%	$1.1M	$574K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1491	+0.154%	$216K	$434K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1489	long leg	$1.2M	$212K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1493	+0.269%	$343K	$193K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1492	+0.201%	$1.3M	$935K	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1490	+0.067%	—	$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	0.1504	+0.988%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1493	+0.240%	$2K	$210K	5x	as long as short
BloFin IO-USDT	+0.0131%	4h	0.1500	+0.739%	$192K	$29K	50x	as long as short
Kraken Futures PF_IOUSD	+4.0679%	1h	0.1487	−0.129%	$38K	$6K	10x	as long as short