PHAROS: Bybit → BingX

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+121%

APR right now

Price gap

-0.209%

between legs

Average spread

+177%

over 24h from our own samples

Over 7 days

+177%

samples: 102

BybitLONG

Bid / ask0.5729 / 0.5742

Mark price0.5731

Volume 24h$503.74K

Open interest$333.19K

Rate+0.0050%

APR+11%

Interval / next payout4h / 11m

Bybit

BingXSHORT

Bid / ask0.573 / 0.574

Mark price0.5735

Volume 24h$1.68M

Open interest—

Rate+0.0602%

APR+132%

Interval / next payout4h / 11m

BingX

Spread from our samples

spread over the period: from 0% to 289% APR, 102 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.