Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Extended against Bybit−0.011%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1281.285% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.011%, 7d avg +0.076%

Together, before fees+0.049%+ Points / potential airdropExtended: Active · farm board+$5 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: Extended is 0.087% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARUSDT	4.4640	0.0100	pay 0.0100% / 8h	2h 56m	$4.6M	$9.0M	75x
Short	Extended AR-USD	4.4635	0.0096	get 0.0012% / 1h	56m 20s	$36K	$237K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$0.84
Price spread: −0.011% → +0.076%: −$8.69
Slippage, 4 orders: −$112.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$138.01
Costs to cover: 1.285%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 30 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 Bybit live order book, 2 min ago	1.12 bp	38.1 bp −$38	467.5 bp −$4,675	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	5.77 bp	27.8 bp −$28	262.2 bp −$2,622	doesn't fit	doesn't fit

AR 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
Kraken Futures PF_ARUSD	−0.2009%	1h	4.4663	+0.050%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4677	+0.082%	$574K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.419%	$3K	$363	5.5x	as long as short
Extended AR-USDshort	+0.0096%	1h	4.4635	−0.011%	$36K	$237K	10x
Binance ARUSDT	+0.0097%	8h	4.4650	+0.022%	$8.8M	$57.3M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4708	+0.152%	$3.8M	$5.0M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4690	+0.113%	$20K	$639K	10x	as long as short
Bybit ARUSDTlong	+0.0100%	8h	4.4640	long leg	$4.6M	$9.0M	75x
OKX AR-USDT-SWAP	+0.0100%	8h	4.4630	−0.022%	$2.2M	$21.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4640	0.000%	$2.5M	$2.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AR_USDT	+0.0100%	8h	4.4670	+0.067%	$6.6M	$4.7M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4640	0.000%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4610	−0.067%	$3.8M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4650	+0.022%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4906	+0.595%	$137K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4940	+0.672%	$57K	$748K	50x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4630	−0.022%	$421K	$674K	20x	as long as short