Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0473%/8h= +51.8% APRpaid last 24h −0.023%

Price spread now: Bitget against tradeXYZ+0.150%7-day average +0.186% · you sell dearer than you buy

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1571.570% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.150%, 7d avg +0.186%

Together, before fees−0.013%+ Points / potential airdroptradeXYZ: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.035% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.150% now, against its 7-day average of +0.186%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.016% in total) that is about 16 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.016% in total (about 0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BX	126.30	−0.0473	get 0.0059% / 1h	48m 11s	$665K	$211K	10x
Short	Bitget BXUSDT	126.49	0	get 0.0000% / 8h	5h 48m	$898K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.150%Rate

Funding earned: $99.36
Price spread: +0.150% → +0.186%: −$3.55
Slippage, 4 orders: −$126.96
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$61.14
Costs to cover: 1.570%
Break-even: 11.3 days

Slippage from tradeXYZ: live order book, 58 min ago; Bitget: live order book, 13 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 tradeXYZ live order book, 58 min ago	2.77 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 13 min ago	17.00 bp	61.7 bp −$62	113.8 bp −$1,138	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXlong	−0.0473%	1h	126.30	long leg	$665K	$211K	10x
Aster BXUSDT	0.0000%	8h	126.15	−0.120%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.42	+0.095%	$486K	$834K	25x	as long as short
QFEX BX-USD	0.0000%	1h	127.02	+0.570%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.47	+0.135%	$424K	$27K	20x	as long as short
Bitget BXUSDTshort	0.0000%	8h	126.49	+0.150%	$898K	$36K	20x
GRVT BX_USDT_Perp	0.0000%	8h	126.35	+0.036%	$898	$114K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.30	0.000%	$725	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.53	+0.182%	$7K	$3K	20x	as long as short
OKX BX-USDT-SWAP	+0.0032%	8h	126.41	+0.087%	$164K	$114K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.850%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0571%	8h	126.18	−0.095%	$114K	$1.0M	20x	as long as short
Variational Omni BX	+0.0895%	8h	126.29	−0.008%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.1180%	8h	126.38	+0.065%	$783K	$486K	20x	as long as short