Funding arb · Price arb /

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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: Bybit against Extended−0.009%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1531.533% of the position

Long on Extended Short on Bybit

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)−0.022%−$2 · spread now −0.009%, 7d avg −0.075%

Together, before fees−0.091%+ Points / potential airdropExtended: Active · farm board−$9 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: Bybit is 0.066% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.4704	0.0104	pay 0.0013% / 1h	13m 29s	$36K	$237K	10x
Short	Bybit ARUSDT	4.4700	0.0100	get 0.0100% / 8h	2h 13m	$4.6M	$8.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$0.84
Price spread: −0.009% → −0.075%: $6.55
Slippage, 4 orders: −$137.29
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$147.57
Costs to cover: 1.533%
Break-even: never at this rate

Slippage from Extended: live order book, 9 min ago; Bybit: live order book, 5 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, 9 min ago	6.79 bp	27.6 bp −$28	214.9 bp −$2,149	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.24 bp	40.8 bp −$41	143.6 bp −$1,436	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	−0.2005%	1h	4.4737	+0.073%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4753	+0.109%	$575K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.272%	$3K	$363	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4777	+0.163%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4751	+0.104%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4706	+0.005%	$8.7M	$56.0M	75x	as long as short
Bybit ARUSDTshort	+0.0100%	8h	4.4700	−0.009%	$4.6M	$8.9M	75x
OKX AR-USDT-SWAP	+0.0100%	8h	4.4680	−0.054%	$2.2M	$20.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4690	−0.032%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4720	+0.035%	$6.8M	$4.8M	100x	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	4.4720	+0.035%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4680	−0.054%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4710	+0.013%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4693	−0.025%	$137K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.125%	$57K	$747K	50x	as long as short
Extended AR-USDlong	+0.0104%	1h	4.4704	long leg	$36K	$237K	10x
BloFin AR-USDT	+0.0220%	8h	4.4660	−0.099%	$420K	$667K	20x	as long as short