Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Extended against Binance+0.054%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1791.794% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.054%, 7d avg −0.032%

Together, before fees−0.096%+ Points / potential airdropExtended: Active · farm board−$10 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: Extended is 0.086% dearer against Binance than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BILLUSDT	0.01376	0.0300	pay 0.0150% / 4h	30m 14s	$2.4M	$3.5M	20x
Short	Extended BILL-USD	0.01377	0.0296	get 0.0037% / 1h	30m 14s	$1K	$213K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$0.74
Price spread: +0.054% → −0.032%: $8.56
Slippage, 4 orders: −$164.41
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$171.58
Costs to cover: 1.794%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Extended: live order book, 47 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 Binance live order book, 6 min ago	7.26 bp	30.6 bp −$31	173.7 bp −$1,737	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	5.15 bp	57.1 bp −$57	doesn't fit	doesn't fit	doesn't fit

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	+0.0097%	4h	0.01378	+0.145%	$143K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01376	+0.007%	$2K	$4K	5x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01377	+0.073%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01377	+0.073%	$279K	$85K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01377	+0.073%	$629K	$809K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01378	+0.145%	$1K	$1.0M	20x	as long as short
Bybit BILLUSDT	+0.0102%	4h	0.01376	0.000%	$1.3M	$919K	20x	as long as short
Extended BILL-USDshort	+0.0296%	1h	0.01377	+0.054%	$1K	$213K	5x
MEXC BILL_USDT	+0.0298%	4h	0.01376	0.000%	$864K	$307K	50x	as long as short
Binance BILLUSDTlong	+0.0300%	4h	0.01376	long leg	$2.4M	$3.5M	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BILL-USDT	+0.0304%	4h	0.01377	+0.073%	—	$1.7M	—	as long as short
Backpack BILL_USDC_PERP	+0.0535%	1h	0.01376	0.000%	$21K	$941	5x	as long as short
Coinbase International BILL-PERP-INTX	+0.0672%	1h	0.01377	+0.073%	$47K	$99K	50x	as long as short
KuCoin BILLUSDTM	+0.0802%	4h	0.01378	+0.116%	$441K	$274K	20x	as long as short
HTX BILL-USDT	+0.0899%	4h	0.01380	+0.291%	$19K	$12K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2151%	1h	0.01378	+0.116%	$107K	$14K	10x	as long as short