Funding arb · Price arb /

STABLE

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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: Bybit against BingX+0.040%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1321.321% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.369%−$37 on $10k

Price spread, last 7 days+0.049%+$5 · spread now +0.040%, 7d avg +0.071%

Together, before fees−0.320%−$32 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: Bybit is 0.031% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02471	0.0100	pay 0.0050% / 4h	1h 38m	—	$6.6M	—
Short	Bybit STABLEUSDT	0.02472	0.0100	get 0.0050% / 4h	1h 38m	$1.5M	$800K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.071%: −$3.07
Slippage, 4 orders: −$111.15
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$135.22
Costs to cover: 1.321%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Bybit: 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 BingX live order book, 13 min ago	6.07 bp	26.8 bp −$27	81.3 bp −$813	615.9 bp −$61.6K	1066.0 bp −$533.0K
Sell Bybit live order book, 2 min ago	6.06 bp	35.7 bp −$36	214.0 bp −$2,140	doesn't fit	doesn't fit

STABLE on 15 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 STABLEUSDT	−0.0248%	4h	0.02470	−0.049%	$19K	$7K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02483	+0.498%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02471	0.000%	$871K	$227K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02471	0.000%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02472	+0.040%	$1.5M	$800K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02470	−0.040%	$203K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02471	0.000%	$172K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02471	0.000%	$659K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02476	+0.202%	$177K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02470	−0.040%	$291K	$117K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDTlong	+0.0100%	4h	0.02471	long leg	—	$6.6M	—
Variational Omni STABLE	+0.0100%	4h	0.02475	+0.150%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02471	−0.004%	$1K	$655K	20x	as long as short
BloFin STABLE-USDT	+0.0103%	4h	0.02468	−0.121%	$113K	$7K	75x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02471	−0.019%	$12K	$175K	10x	as long as short