Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.120%

Price spread now: HTX against Extended−0.044%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 HTX

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.044% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BILL-USD	0.01372	0.0128	pay 0.0016% / 1h	36m 28s	$4K	$261K	5x
Short	HTX BILL-USDT	0.01371	0.0100	get 0.0050% / 4h	2h 36m	$11K	$39K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$5.88
Price spread: −0.044% → 0.000%: −$4.41
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$27.29
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 11 min ago; HTX: 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, 11 min ago	6.57 bp	46.0 bp −$46	458.9 bp −$4,589	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	+0.0067%	4h	0.01362	−0.700%	$148K	$17K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01370	−0.145%	$1K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01369	−0.190%	$1.3M	$1.0M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01368	−0.263%	$278K	$90K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01368	−0.263%	$1K	$1.2M	20x	as long as short
HTX BILL-USDTshort	+0.0100%	4h	0.01371	−0.044%	$11K	$39K	20x
Binance BILLUSDT	+0.0120%	4h	0.01372	+0.026%	$2.5M	$4.0M	20x	as long as short
MEXC BILL_USDT	+0.0126%	4h	0.01371	−0.044%	$980K	$341K	50x	as long as short
Extended BILL-USDlong	+0.0128%	1h	0.01372	long leg	$4K	$261K	5x
Backpack BILL_USDC_PERP	+0.0226%	1h	0.01369	−0.190%	$21K	$977	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BILLUSDT	+0.0272%	4h	0.01371	−0.044%	$650K	$1.3M	20x	as long as short
BingX BILL-USDT	+0.0490%	4h	0.01371	−0.044%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0510%	4h	0.01371	−0.044%	$1.1M	$2.9M	20x	as long as short
KuCoin BILLUSDTM	+0.0670%	4h	0.01370	−0.117%	$454K	$337K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0832%	1h	0.01365	−0.511%	$38K	$98K	50x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2169%	1h	0.01368	−0.285%	$107K	$12K	10x	as long as short