Funding arb · Price arb /

DYM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0948%/8h= −103.8% APRpaid last 24h −0.203%

Price spread now: Extended against KuCoin−0.296%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,010as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,971as in the Price arb table

costs, in and out, $10k−$1,95019.505% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.597%−$60 on $10k

Price spread, last 4 days (all we have)+0.252%+$25 · spread now −0.296%, 7d avg −0.095%

Together, before fees−0.345%+ Points / potential airdropExtended: Active · farm board−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Extended is 0.201% cheaper against KuCoin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.095%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.597% in total (about -31.1% 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	KuCoin DYMUSDTM	0.01843	0.1052	pay 0.0526% / 4h	1h 35m	$426K	$126K	25x
Short	Extended DYM-USD	0.01838	0.0104	get 0.0013% / 1h	35m 52s	$3K	$147K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.296%Rate

Funding earned: −$199.08
Price spread: −0.296% → −0.095%: −$20.15
Slippage, 4 orders: −$1,933.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$2,169.71
Costs to cover: 19.505%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Extended: live order book, 5 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 KuCoin live order book, 7 min ago	32.61 bp	858.7 bp −$859	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	7.37 bp	99.6 bp −$100	doesn't fit	doesn't fit	doesn't fit

DYM on 14 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
dYdX DYM-USD	+0.0007%	1h	0.01833	−0.560%	$251	—	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.782%	$237	$12K	5.5x	as long as short
Hyperliquid DYM	+0.0100%	1h	0.01837	−0.326%	$369K	$234K	3x	as long as short
Aster DYMUSDT	+0.0100%	4h	0.01837	−0.326%	$76K	$7K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01838	−0.253%	$2.4M	$4.4M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01835	−0.434%	$771K	$499K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01840	−0.163%	$155K	$93K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01841	−0.109%	$1.2M	$567K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01839	−0.217%	$398K	$156K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01837	−0.326%	—	$16.1M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01836	−0.397%	$9K	$5K	—	as long as short
Extended DYM-USDshort	+0.0104%	1h	0.01838	−0.296%	$3K	$147K	5x
KuCoin DYMUSDTMlong	+0.1052%	4h	0.01843	long leg	$426K	$126K	25x
Kraken Futures PF_DYMUSD	+0.4088%	1h	0.01849	+0.307%	$15K	$4K	10x	as long as short