Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.043%

Price spread now: BingX against OKX+0.099%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1131.132% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 7 days−0.131%−$13 · spread now +0.099%, 7d avg −0.001%

Together, before fees+0.080%+$8 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 0.100% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX S-USDT-SWAP	0.04043	0.0100	pay 0.0050% / 4h	2h 00m	$1.0M	$4.0M	20x
Short	BingX S-USDT	0.04047	0.0100	get 0.0050% / 4h	2h 00m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → −0.001%: $9.99
Slippage, 4 orders: −$93.17
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$103.17
Costs to cover: 1.132%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; BingX: live order book, 7 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 OKX live order book, 2 min ago	4.91 bp	36.8 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	4.91 bp	20.9 bp −$21	61.6 bp −$616	353.0 bp −$35.3K	716.8 bp −$358.4K

S on 24 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
01 Exchange SUSD	−0.8976%	1h	0.03950	−2.300%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−0.519%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1250%	1h	0.04054	+0.262%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0350%	4h	0.04052	+0.230%	$630K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04059	+0.391%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04060	+0.423%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04060	+0.416%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.410%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0054%	4h	0.04056	+0.322%	$101K	$330K	10x	as long as short
Lighter S	+0.0096%	1h	0.04052	+0.223%	$168K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04052	+0.213%	$1.0M	$563K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04054	+0.282%	$44K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04047	+0.095%	$5.6M	$14.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04042	−0.025%	$5.8M	$4.6M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.04043	long leg	$1.0M	$4.0M	20x
Gate S_USDT	+0.0100%	4h	0.04048	+0.124%	$333K	$207K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04049	+0.148%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04044	+0.025%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04050	+0.173%	$1.2M	$2.3M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.04047	+0.099%	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04060	+0.420%	$24K	$444K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04045	+0.057%	$228K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0243%	1h	0.04061	+0.445%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0956%	1h	0.04070	+0.668%	$118K	$351K	5x	as long as short