Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.027%

Price spread now: OKX against Extended+0.019%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

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

costs, in and out, $10k−$980.981% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.019%, 7d avg −0.077%

Together, before fees−0.131%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.096% dearer against Extended than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.077%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 7 days (−0.012% in total) that is about 57 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.5351	0.0040	pay 0.0005% / 1h	29m 47s	$37K	$238K	10x
Short	OKX AR-USDT-SWAP	4.5360	−0.0126	pay 0.0126% / 8h	6h 29m	$2.3M	$19.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$34.84
Price spread: +0.019% → −0.077%: $9.65
Slippage, 4 orders: −$83.15
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$123.34
Costs to cover: 0.981%
Break-even: never at this rate

Slippage from Extended: live order book, 37 min ago; OKX: live order book, 4 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, 37 min ago	6.96 bp	29.1 bp −$29	177.9 bp −$1,779	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.11 bp	22.9 bp −$23	88.3 bp −$883	doesn't fit	doesn't fit

AR on 16 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	−0.1685%	1h	4.5465	+0.250%	$56K	$150K	20x	as long as short
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.673%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5320	−0.069%	$583K	—	50x	as long as short
OKX AR-USDT-SWAPshort	−0.0126%	8h	4.5360	+0.019%	$2.3M	$19.4M	20x
MEXC AR_USDT	+0.0035%	8h	4.5360	+0.019%	$6.4M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0038%	8h	4.5370	+0.041%	$9.0M	$53.0M	75x	as long as short
Extended AR-USDlong	+0.0040%	1h	4.5351	long leg	$37K	$238K	10x
Hyperliquid AR	+0.0100%	1h	4.5418	+0.147%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5334	−0.037%	$26K	$493K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5340	−0.025%	$4.6M	$8.4M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5330	−0.047%	$2.5M	$2.1M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5330	−0.047%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5320	−0.069%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5330	−0.047%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5183	−0.371%	$141K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4900	−0.995%	$20K	$742K	50x	as long as short