Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1348%/8h= −147.6% APRpaid last 24h −0.530%

Price spread now: Coinbase International against BingX−0.935%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Coinbase International is 0.935% cheaper against BingX than usual: you would sell low and buy high (−$94 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04278	0.0100	pay 0.0050% / 4h	3h 52m	—	$6.9M	—
Short	Coinbase International S-PERP-INTX	0.04238	−0.1248	pay 0.0156% / 1h	52m 08s	$52K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.935%Rate

Funding earned: −$283.08
Price spread: −0.935% → 0.000%: −$93.5
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$396.58
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 1 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 1 min ago	5.86 bp	25.7 bp −$26	81.6 bp −$816	503.9 bp −$50.4K	790.1 bp −$395.0K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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_SUSD	−0.2659%	1h	0.04268	−0.237%	$35K	$23K	10x	as long as short
Coinbase International S-PERP-INTXshort	−0.1248%	1h	0.04238	−0.935%	$52K	$18K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04263	−0.344%	$1K	—	100x	as long as short
Variational Omni S	−0.0116%	4h	0.04307	+0.673%	$667K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04265	−0.296%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04293	+0.359%	$660	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−4.161%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0078%	4h	0.04270	−0.187%	$106K	$617K	10x	as long as short
Lighter S	+0.0096%	1h	0.04272	−0.140%	$183K	$99K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04279	+0.026%	$1.1M	$705K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.04277	−0.028%	$46K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04272	−0.145%	$6.3M	$16.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04268	−0.234%	$6.2M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04269	−0.210%	$1.2M	$4.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04270	−0.187%	$357K	$214K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04276	−0.047%	$4.4M	$2.2M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04266	−0.281%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04277	−0.023%	$1.3M	$2.6M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04278	long leg	—	$6.9M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.04280	+0.047%	$101K	$472K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04290	+0.281%	$25K	$506K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04268	−0.235%	$236K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04275	−0.070%	$317K	$121K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0686%	1h	0.04276	−0.047%	$72K	$10K	10x	as long as short
01 Exchange SUSD	+0.6632%	1h	0.04340	+1.449%	$27K	$2K	5x	as long as short