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 MEXC−0.035%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1591.587% of the position

Long on MEXC 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−0.087%−$9 · spread now −0.035%, 7d avg −0.110%

Together, before fees−0.087%−$9 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 0.074% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SQD_USDT	0.02830	0.0100	pay 0.0050% / 4h	2h 00m	$5.8M	$173K	50x
Short	BingX SQD-USDT	0.02829	0.0100	get 0.0050% / 4h	2h 00m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.110%: $7.44
Slippage, 4 orders: −$144.7
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$151.26
Costs to cover: 1.587%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; BingX: live order book, 3 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 MEXC live order book, 2 min ago	3.53 bp	37.2 bp −$37	92.2 bp −$922	262.9 bp −$26.3K	doesn't fit
Sell BingX live order book, 3 min ago	10.61 bp	45.0 bp −$45	104.2 bp −$1,042	649.3 bp −$64.9K	1100.9 bp −$550.5K

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	+0.0074%	4h	0.02828	−0.071%	$81K	$42K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02829	−0.051%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02827	−0.121%	$1.2M	$1.2M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02821	−0.318%	$880K	$496K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02827	−0.106%	$595K	$43K	20x	as long as short
MEXC SQD_USDTlong	+0.0100%	4h	0.02830	long leg	$5.8M	$173K	50x
KuCoin SQDUSDTM	+0.0100%	4h	0.02827	−0.106%	$391K	$1.2M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02822	−0.283%	$723K	$83K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02829	−0.035%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02822	−0.270%	$11K	$52K	—	as long as short