Funding arb · Price arb /

BASED

all BASED markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.164%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2072.075% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.164%, 7d avg −0.085%

Together, before fees+0.038%+ Points / potential airdropExtended: Active · farm board+$4 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 0.080% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BASED-USD	0.06815	0.0104	pay 0.0013% / 1h	58m 19s	$1K	$197K	5x
Short	Bybit BASEDUSDT	0.06804	0.0100	get 0.0050% / 4h	58m 19s	$2.1M	$682K	25x

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 −0.164%Rate

Funding earned: −$0.84
Price spread: −0.164% → −0.085%: −$7.96
Slippage, 4 orders: −$191.49
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$216.29
Costs to cover: 2.075%
Break-even: never at this rate

Slippage from Extended: live order book, 63 min ago; Bybit: live order book, 3 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, 63 min ago	0.87 bp	35.4 bp −$35	245.7 bp −$2,457	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.14 bp	70.4 bp −$70	962.5 bp −$9,625	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
Aster BASEDUSDT	+0.0100%	4h	0.06818	+0.041%	$29K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06814	−0.018%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06804	−0.164%	$2.1M	$682K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06813	−0.032%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06810	−0.076%	$535K	$576K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06818	+0.041%	$4.9M	$585K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06822	+0.100%	$569K	$72K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06823	+0.114%	$1.3M	$366K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06810	−0.076%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06803	−0.185%	$94K	$15K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06820	+0.070%	$94K	$380K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06810	−0.076%	$1K	$885K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06815	long leg	$1K	$197K	5x
BloFin BASED-USDT	+0.0155%	4h	0.06824	+0.129%	$260K	$47K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0237%	4h	0.06816	+0.012%	$3K	$664	10x	as long as short