Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended+0.097%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1131.126% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.097%, 7d avg −0.027%

Together, before fees−0.009%+ Points / potential airdropExtended: Active · farm board−$1 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: BingX is 0.124% dearer against Extended than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BASED-USD	0.06824	0.0104	pay 0.0013% / 1h	51m 25s	$3K	$200K	5x
Short	BingX BASED-USDT	0.06831	0.0100	get 0.0050% / 4h	2h 51m	—	$1.7M	—

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 +0.097%Rate

Funding earned: −$0.84
Price spread: +0.097% → −0.027%: $12.39
Slippage, 4 orders: −$97.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$101.01
Costs to cover: 1.126%
Break-even: never at this rate

Slippage from Extended: live order book, 15 min ago; BingX: live order book, 11 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, 15 min ago	1.31 bp	16.8 bp −$17	216.2 bp −$2,162	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	5.11 bp	22.6 bp −$23	82.7 bp −$827	doesn't fit	doesn't fit

BASED on 15 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
Binance BASEDUSDT	+0.0100%	4h	0.06834	+0.139%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06826	+0.023%	$2.1M	$642K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06833	+0.126%	$2.6M	$3.7M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06820	−0.065%	$540K	$546K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06831	+0.097%	$4.9M	$626K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06822	−0.035%	$573K	$65K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06837	+0.185%	$1.3M	$370K	25x	as long as short
BingX BASED-USDTshort	+0.0100%	4h	0.06831	+0.097%	—	$1.7M	—
Variational Omni BASED	+0.0100%	4h	0.06814	−0.146%	$94K	$18K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06807	−0.250%	$97K	$382K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06829	+0.067%	$1K	$858K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06824	long leg	$3K	$200K	5x
BloFin BASED-USDT	+0.0156%	4h	0.06797	−0.402%	$255K	$41K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0266%	4h	0.06826	+0.023%	$3K	$1K	10x	as long as short
Aster BASEDUSDT	+0.0335%	4h	0.06816	−0.125%	$29K	$6K	5x	as long as short