Funding arb · Price arb /

SQD

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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 Binance−0.276%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1471.466% of the position

Long on Binance 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 7 days+0.192%+$19 · spread now −0.276%, 7d avg −0.108%

Together, before fees+0.192%+$19 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 0.168% cheaper against Binance than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SQDUSDT	0.02894	0.0100	pay 0.0050% / 4h	1h 31m	$1.2M	$1.3M	50x
Short	BingX SQD-USDT	0.02886	0.0100	get 0.0050% / 4h	1h 31m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.276%Rate

Funding earned: $0
Price spread: −0.276% → −0.108%: −$16.8
Slippage, 4 orders: −$126.56
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$163.37
Costs to cover: 1.466%
Break-even: never at this rate

Slippage from Binance: live order book, 1 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 Binance live order book, 1 min ago	3.45 bp	30.3 bp −$30	267.1 bp −$2,671	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	8.67 bp	41.5 bp −$41	90.8 bp −$908	781.2 bp −$78.1K	1170.6 bp −$585.3K

SQD on 10 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
BloFin SQD-USDT	+0.0055%	4h	0.02892	−0.069%	$80K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02888	−0.203%	$15K	$1K	5x	as long as short
Binance SQDUSDTlong	+0.0100%	4h	0.02894	long leg	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02881	−0.449%	$893K	$341K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02885	−0.311%	$608K	$28K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02893	−0.035%	$5.9M	$181K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02885	−0.311%	$402K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02885	−0.311%	$740K	$55K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02886	−0.276%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02880	−0.467%	$7K	$33K	—	as long as short