Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget−0.069%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1621.621% of the position

Long on Bitget 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 4 days (all we have)+0.057%+$6 · spread now −0.069%, 7d avg +0.014%

Together, before fees+0.057%+$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 0.083% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SQDUSDT	0.02891	0.0100	pay 0.0050% / 4h	51m 56s	$740K	$81K	25x
Short	BingX SQD-USDT	0.02889	0.0100	get 0.0050% / 4h	51m 56s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → +0.014%: −$8.31
Slippage, 4 orders: −$140.09
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$170.41
Costs to cover: 1.621%
Break-even: never at this rate

Slippage from Bitget: live order book, 23 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 Bitget live order book, 23 min ago	7.01 bp	34.2 bp −$34	264.8 bp −$2,648	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	12.07 bp	38.2 bp −$38	103.7 bp −$1,037	880.3 bp −$88.0K	1289.2 bp −$644.6K

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
Aster SQDUSDT	+0.0100%	4h	0.02892	+0.052%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02894	+0.103%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02885	−0.208%	$898K	$510K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02890	−0.035%	$609K	$45K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02893	+0.069%	$5.9M	$171K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02890	−0.035%	$406K	$1.3M	50x	as long as short
Bitget SQDUSDTlong	+0.0100%	4h	0.02891	long leg	$740K	$81K	25x
BingX SQD-USDTshort	+0.0100%	4h	0.02889	−0.069%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02881	−0.359%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0152%	4h	0.02903	+0.415%	$81K	$44K	50x	as long as short