Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.176%

Price spread now: BingX against Deribit−0.008%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01185	0	get 0.0000% / 1h	13m 14s	$14K	$3K	10x
Short	BingX W-USDT	0.01185	0.0100	get 0.0050% / 4h	2h 13m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $21
Price spread: −0.008% → 0.000%: −$0.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $3.16
Costs to cover: 0.170%
Break-even: 5.9 days

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 9 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	4.28 bp	26.5 bp −$26	32.6 bp −$326	294.9 bp −$29.5K	982.2 bp −$491.1K

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

W on 17 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
Deribit W_USDC-PERPETUALlong	0.0000%	1h	0.01185	long leg	$14K	$3K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.017%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	+0.160%	$2.0M	$287K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01186	+0.058%	$3.0M	$5.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01184	−0.135%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01184	−0.051%	$1.3M	$1.6M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01186	+0.076%	$430K	$248K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01186	+0.110%	$12.4M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01186	+0.076%	$398K	$193K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01187	+0.160%	$1.3M	$582K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDTshort	+0.0100%	4h	0.01185	−0.008%	—	$6.7M	—
Backpack W_USDC_PERP	+0.0100%	1h	0.01189	+0.312%	$44K	$42K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01177	−0.670%	$72K	$40K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01179	−0.492%	$128K	$372K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01186	+0.054%	$60K	$146K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0400%	1h	0.01188	+0.228%	$14K	$14K	50x	as long as short
Kraken Futures PF_WUSD	+0.1722%	1h	0.01187	+0.143%	$148K	$189K	20x	as long as short