Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.031%

Price spread now: Extended against Aster+0.192%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Extended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Extended is 0.192% dearer against Aster than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BILLUSDT	0.01382	0.0152	pay 0.0076% / 4h	3h 33m	$1K	$4K	5x
Short	Extended BILL-USD	0.01384	0.0312	get 0.0039% / 1h	33m 45s	$3K	$230K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Aster. 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 AsterbpFee ExtendedbpOrdersPrice spread, now +0.192%Rate

Funding earned: $33.65
Price spread: +0.192% → 0.000%: $19.16
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $39.81
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Aster: no order-book sample; Extended: live order book, 18 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell Extended live order book, 18 min ago	5.74 bp	70.8 bp −$71	doesn't fit	doesn't fit	doesn't fit

Aster: 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.

BILL 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
BloFin BILL-USDT	+0.0060%	4h	0.01381	−0.058%	$146K	$19K	20x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01383	+0.087%	$1.3M	$1.0M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01384	+0.160%	$280K	$87K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01386	+0.304%	$2K	$1.2M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01382	+0.015%	$11K	$39K	20x	as long as short
Aster BILLUSDTlong	+0.0152%	4h	0.01382	long leg	$1K	$4K	5x
Bitget BILLUSDT	+0.0246%	4h	0.01384	+0.160%	$656K	$1.2M	20x	as long as short
MEXC BILL_USDT	+0.0310%	4h	0.01383	+0.087%	$1.0M	$360K	50x	as long as short
Extended BILL-USDshort	+0.0312%	1h	0.01384	+0.192%	$3K	$230K	5x
Binance BILLUSDT	+0.0312%	4h	0.01385	+0.232%	$2.5M	$3.9M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack BILL_USDC_PERP	+0.0343%	1h	0.01382	+0.015%	$21K	$947	5x	as long as short
BingX BILL-USDT	+0.0416%	4h	0.01385	+0.232%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0489%	4h	0.01384	+0.160%	$1.1M	$2.8M	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0760%	1h	0.01381	−0.079%	$66K	$72K	50x	as long as short
KuCoin BILLUSDTM	+0.1168%	4h	0.01384	+0.145%	$459K	$329K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.1922%	1h	0.01384	+0.167%	$108K	$13K	10x	as long as short