Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.037%

Price spread now: Extended against SunX−0.109%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$348as in the Funding arb table

Net, price: spread back to 7d avg − costs−$353as in the Price arb table

costs, in and out, $10k−$3553.552% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.109%, 7d avg −0.129%

Together, before fees+0.070%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BILL-USDT	0.01388	0.0100	pay 0.0050% / 4h	3h 41m	$2K	$1.1M	20x
Short	Extended BILL-USD	0.01386	0.0320	get 0.0040% / 1h	41m 12s	$3K	$247K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now −0.109%Rate

Funding earned: $46.2
Price spread: −0.109% → −0.129%: $1.98
Slippage, 4 orders: −$342.18
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$307.01
Costs to cover: 3.552%
Break-even: 53.5 days

Slippage from SunX: live order book, 2 min ago; Extended: live order book, 31 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 SunX live order book, 2 min ago	35.97 bp	106.7 bp −$107	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	4.71 bp	57.2 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
Aster BILLUSDT	+0.0100%	4h	0.01386	−0.118%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01385	−0.216%	$1.3M	$937K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01386	−0.144%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01387	−0.072%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01386	−0.144%	$631K	$847K	20x	as long as short
SunX BILL-USDTlong	+0.0100%	4h	0.01388	long leg	$2K	$1.1M	20x
BloFin BILL-USDT	+0.0114%	4h	0.01386	−0.144%	$144K	$19K	20x	as long as short
Backpack BILL_USDC_PERP	+0.0210%	1h	0.01386	−0.144%	$22K	$926	5x	as long as short
Binance BILLUSDT	+0.0317%	4h	0.01386	−0.144%	$2.5M	$3.6M	20x	as long as short
MEXC BILL_USDT	+0.0318%	4h	0.01385	−0.216%	$1.0M	$320K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USDshort	+0.0320%	1h	0.01386	−0.109%	$3K	$247K	5x
BingX BILL-USDT	+0.0322%	4h	0.01385	−0.216%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	−0.151%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0854%	4h	0.01390	+0.144%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0976%	4h	0.01388	−0.029%	$446K	$280K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2135%	1h	0.01387	−0.058%	$108K	$14K	10x	as long as short