Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget−0.199%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$940.937% of the position

Long on Bitget 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)+0.130%+$13 · spread now −0.199%, 7d avg −0.068%

Together, before fees+0.130%+$13 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 0.131% cheaper against Bitget than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NOTUSDT	0.0005031	0.0100	pay 0.0050% / 4h	2h 18m	$668K	$498K	50x
Short	BingX NOT-USDT	0.0005021	0.0100	get 0.0050% / 4h	2h 18m	—	$8.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.199%Rate

Funding earned: $0
Price spread: −0.199% → −0.068%: −$13.08
Slippage, 4 orders: −$71.71
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$106.79
Costs to cover: 0.937%
Break-even: never at this rate

Slippage from Bitget: live order book, 27 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 Bitget live order book, 27 min ago	8.94 bp	22.2 bp −$22	255.7 bp −$2,557	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	6.01 bp	18.9 bp −$19	63.6 bp −$636	558.6 bp −$55.9K	1007.9 bp −$503.9K

NOT on 16 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
Variational Omni NOT	−0.0104%	4h	0.0004998	−0.653%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0042%	4h	0.0005018	−0.258%	$478K	$136K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.121%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005034	+0.052%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005020	−0.219%	$338K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005025	−0.125%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005024	−0.139%	$2.1M	$3.2M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005018	−0.258%	$2.1M	$892K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005024	−0.139%	$639K	$704K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005020	−0.219%	$138K	$73K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005025	−0.119%	$1.3M	$450K	200x	as long as short
Bitget NOTUSDTlong	+0.0100%	4h	0.0005031	long leg	$668K	$498K	50x
BingX NOT-USDTshort	+0.0100%	4h	0.0005021	−0.199%	—	$8.5M	—
Extended kNOT-USD	+0.0104%	1h	0.0005023	−0.165%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0110%	4h	0.0005016	−0.298%	$109K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.1679%	1h	0.0005042	+0.227%	$49K	$9K	10x	as long as short