Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.020%

Price spread now: BingX against Extended+0.021%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$920.924% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.021%, 7d avg −0.026%

Together, before fees+0.009%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.046% dearer against Extended than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.5851	0.0056	pay 0.0007% / 1h	58m 57s	$37K	$237K	10x
Short	BingX AR-USDT	4.5860	0.0100	get 0.0100% / 8h	58m 57s	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $9.24
Price spread: +0.021% → −0.026%: $4.63
Slippage, 4 orders: −$77.38
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$78.51
Costs to cover: 0.924%
Break-even: 66.5 days

Slippage from Extended: live order book, 18 min ago; BingX: live order book, 1 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 Extended live order book, 18 min ago	6.90 bp	27.4 bp −$27	244.4 bp −$2,444	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	3.28 bp	17.2 bp −$17	38.8 bp −$388	321.7 bp −$32.2K	717.1 bp −$358.6K

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	−0.1963%	1h	4.5858	+0.016%	$47K	$157K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5847	−0.007%	$590K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0012%	8h	4.5830	−0.045%	$2.4M	$20.9M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−0.285%	$3K	$339	5.5x	as long as short
Binance ARUSDT	+0.0055%	8h	4.5870	+0.042%	$9.0M	$55.6M	75x	as long as short
MEXC AR_USDT	+0.0055%	8h	4.5850	−0.001%	$6.9M	$4.4M	100x	as long as short
Extended AR-USDlong	+0.0056%	1h	4.5851	long leg	$37K	$237K	10x
Aster ARUSDT	+0.0100%	8h	4.5833	−0.038%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5840	−0.023%	$4.7M	$8.9M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5880	+0.064%	$2.6M	$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
KuCoin ARUSDTM	+0.0100%	8h	4.5910	+0.130%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5840	−0.023%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDTshort	+0.0100%	8h	4.5860	+0.021%	—	$2.9M	—
Variational Omni AR	+0.0100%	8h	4.5609	−0.527%	$139K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5680	−0.372%	$58K	$748K	50x	as long as short
BloFin AR-USDT	+0.0175%	8h	4.5830	−0.045%	$432K	$675K	20x	as long as short
Hyperliquid AR	+0.0254%	1h	4.5960	+0.239%	$4.1M	$4.9M	5x	as long as short