Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: BingX against Extended+0.022%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1121.123% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 7 days+0.007%+$1 · spread now +0.022%, 7d avg +0.054%

Together, before fees+0.068%+ Points / potential airdropExtended: Active · farm board+$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 0.032% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.04657	0.0104	pay 0.0013% / 1h	29m 16s	$263K	$1.3M	10x
Short	BingX S-USDT	0.04658	0.0100	get 0.0050% / 4h	1h 29m	—	$7.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$0.84
Price spread: +0.022% → +0.054%: −$3.23
Slippage, 4 orders: −$97.31
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$116.38
Costs to cover: 1.123%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; BingX: live order book, 2 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 Extended live order book, 2 min ago	3.23 bp	20.1 bp −$20	231.9 bp −$2,319	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	7.55 bp	27.4 bp −$27	76.4 bp −$764	333.5 bp −$33.4K	732.5 bp −$366.3K

S on 25 exchanges

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
01 Exchange SUSD	−1.0496%	1h	0.04490	−3.586%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.4511%	1h	0.04652	−0.102%	$39K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−11.359%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0901%	4h	0.04639	−0.388%	$743K	$43K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04667	+0.206%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04619	−0.818%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0054%	4h	0.04661	+0.086%	$116K	$641K	10x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04670	+0.279%	$79K	$623	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04624	−0.718%	$713	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04661	+0.086%	$164K	$146K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04666	+0.196%	$1.2M	$925K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04660	+0.065%	$49K	$155K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04662	+0.108%	$7.2M	$21.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04656	−0.021%	$6.6M	$5.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04657	0.000%	$1.4M	$6.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04654	−0.064%	$398K	$250K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04662	+0.108%	$4.3M	$3.2M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04655	−0.043%	$2.2M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04669	+0.258%	$1.4M	$3.1M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.04658	+0.022%	—	$7.1M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04650	−0.150%	$25K	$527K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.04657	long leg	$263K	$1.3M	10x
Injective S/USDC PERP	+0.0140%	1h	0.04600	−1.224%	$2K	$2	12x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04648	−0.193%	$345K	$237K	75x	as long as short
Backpack S_USDC_PERP	+0.0655%	1h	0.04680	+0.494%	$106K	$460K	5x	as long as short