Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.027%

Price spread now: Orderly against Extended−0.047%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.047% cheaper against Extended than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BASED-USD	0.06818	0.0104	pay 0.0013% / 1h	37m 13s	$5K	$226K	5x
Short	Orderly PERP_BASED_USDC	0.06815	0.0343	get 0.0171% / 4h	37m 13s	$3K	$652	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.047%Rate

Funding earned: $50.16
Price spread: −0.047% → 0.000%: −$4.66
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $34.49
Costs to cover: 0.110%
Break-even: 2.2 days

Slippage unknown: Extended: live order book, 40 min ago; Orderly: no order-book sample. Net counts fees only.

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, 40 min ago	1.03 bp	9.6 bp −$10	214.1 bp −$2,141	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin BASED-USDT	+0.0061%	4h	0.06828	+0.144%	$211K	$41K	25x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06820	+0.020%	$4.2M	$3.0M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06812	−0.091%	$2.1M	$580K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06817	−0.017%	$2.6M	$3.6M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06818	−0.003%	$542K	$534K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06819	+0.012%	$4.8M	$644K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06819	+0.012%	$571K	$84K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06827	+0.129%	$1.3M	$369K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06819	+0.012%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06818	−0.008%	$93K	$22K	—	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	0.06823	+0.066%	$89K	$363K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06810	−0.120%	$1K	$819K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06818	long leg	$5K	$226K	5x
Aster BASEDUSDT	+0.0318%	4h	0.06818	0.000%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDCshort	+0.0343%	4h	0.06815	−0.047%	$3K	$652	10x