Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.019%

Price spread now: Extended against KuCoin−0.106%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2312.314% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.106%, 7d avg +0.012%

Together, before fees−0.114%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.117% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARUSDTM	4.6380	0.0100	pay 0.0100% / 8h	1m 46s	$1.5M	$1.2M	50x
Short	Extended AR-USD	4.6331	0.0008	get 0.0001% / 1h	1m 46s	$38K	$237K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$19.32
Price spread: −0.106% → +0.012%: −$11.74
Slippage, 4 orders: −$214.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$262.51
Costs to cover: 2.314%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Extended: live order book, 10 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 KuCoin live order book, 4 min ago	5.41 bp	100.9 bp −$101	835.1 bp −$8,351	doesn't fit	doesn't fit
Sell Extended live order book, 10 min ago	4.77 bp	25.9 bp −$26	206.2 bp −$2,062	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	−0.1943%	1h	4.6324	−0.120%	$53K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.6389	+0.019%	$596K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0088%	8h	4.6280	−0.216%	$2.4M	$21.1M	20x	as long as short
MEXC AR_USDT	+0.0005%	8h	4.6340	−0.086%	$6.8M	$4.5M	100x	as long as short
Extended AR-USDshort	+0.0008%	1h	4.6331	−0.106%	$38K	$237K	10x
Binance ARUSDT	+0.0008%	8h	4.6329	−0.109%	$9.3M	$55.5M	75x	as long as short
BloFin AR-USDT	+0.0024%	8h	4.6390	+0.022%	$441K	$636K	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−1.423%	$3K	$339	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.6450	+0.151%	$4.3M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.6340	−0.086%	$20K	$606K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.6314	−0.142%	$4.6M	$8.8M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6380	0.000%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.6380	long leg	$1.5M	$1.2M	50x
Bitget ARUSDT	+0.0100%	8h	4.6320	−0.129%	$4.0M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.6340	−0.086%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6124	−0.552%	$143K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.6290	−0.194%	$23K	$764K	50x	as long as short