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 +0.004%

Price spread now: BingX against Bybit+0.159%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$393as in the Funding arb table

Net, price: spread back to 7d avg − costs−$390as in the Price arb table

costs, in and out, $10k−$3953.949% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.159%, 7d avg +0.107%

Together, before fees−0.062%−$6 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 0.052% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOTUSDT	0.0005036	0.0100	pay 0.0050% / 4h	38m 00s	$2.1M	$822K	25x
Short	BingX NOT-USDC	0.0005044	0.0100	get 0.0050% / 4h	38m 00s	—	$729K	—

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 +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.107%: $5.23
Slippage, 4 orders: −$373.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$389.69
Costs to cover: 3.949%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; BingX: live order book, 21 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, 4 min ago	5.94 bp	41.9 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 21 min ago	5.97 bp	152.3 bp −$152	doesn't fit	doesn't fit	doesn't fit

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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.217%	$1K	$13K	5.5x	as long as short
Variational Omni NOT	+0.0055%	4h	0.0005047	+0.219%	$72K	$38K	—	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005054	+0.347%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.079%	$339K	$64K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005045	+0.169%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005040	+0.077%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDTlong	+0.0100%	4h	0.0005036	long leg	$2.1M	$822K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005040	+0.079%	$642K	$652K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005047	+0.218%	$140K	$53K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005041	+0.099%	$1.4M	$457K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005040	+0.079%	$478K	$131K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005044	+0.159%	$676K	$456K	50x	as long as short
BingX NOT-USDCshort	+0.0100%	4h	0.0005044	+0.159%	—	$729K	—
Extended kNOT-USD	+0.0104%	1h	0.0005039	+0.050%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0158%	4h	0.0005042	+0.119%	$108K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.0444%	1h	0.0005045	+0.183%	$49K	$7K	10x	as long as short