Funding arb · Price arb /

EIGEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0598%/8h= −65.5% APRpaid last 24h −0.028%

Price spread now: Bybit against Extended+0.043%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$990.992% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.043%, 7d avg −0.009%

Together, before fees−0.229%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.052% dearer against Extended than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.009%): +$5 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.156% in total) that is about 2.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.156% in total (about -8.1% 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	Extended EIGEN-USD	0.2429	0.0104	pay 0.0013% / 1h	46m 13s	$89K	$594K	10x
Short	Bybit EIGENUSDT	0.2430	−0.0494	pay 0.0247% / 4h	3h 46m	$9.7M	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$125.53
Price spread: +0.043% → −0.009%: $5.2
Slippage, 4 orders: −$83.24
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$219.57
Costs to cover: 0.992%
Break-even: never at this rate

Slippage from Extended: live order book, 27 min ago; Bybit: live order book, 2 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 Extended live order book, 27 min ago	8.28 bp	28.0 bp −$28	195.8 bp −$1,958	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.12 bp	22.8 bp −$23	76.9 bp −$769	doesn't fit	doesn't fit

EIGEN on 26 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
Bybit EIGENUSDTshort	−0.0494%	4h	0.2430	+0.043%	$9.7M	$7.7M	50x
01 Exchange EIGENUSD	−0.0136%	1h	0.2428	−0.031%	$823	$5K	10x	as long as short
Kraken Futures PF_EIGENUSD	−0.0097%	1h	0.2433	+0.180%	$175K	$74K	20x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2432	+0.118%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2429	+0.014%	—	$86	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+0.381%	$6	$6	5.5x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2435	+0.274%	$554K	$449K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2432	+0.113%	$32K	$18K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2435	+0.257%	$4.8M	$1.6M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2429	+0.013%	$48K	$35K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EIGENUSDT	+0.0100%	4h	0.2428	−0.031%	$8.3M	$20.3M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2427	−0.072%	$1.7M	$5.0M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2430	+0.052%	$733K	$565K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2427	−0.072%	$8.6M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2429	+0.010%	$2.4M	$10.5M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2427	−0.072%	$1.9M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2429	+0.010%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2430	+0.036%	$202K	$125K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2427	−0.053%	$189K	$2.2M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2428	−0.031%	$36K	$237K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2428	−0.031%	$577	$3K	10x	as long as short
Extended EIGEN-USDlong	+0.0104%	1h	0.2429	long leg	$89K	$594K	10x
BloFin EIGEN-USDT	+0.0119%	4h	0.2428	−0.031%	$354K	$133K	75x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0144%	1h	0.2427	−0.055%	$54K	$175K	50x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2429	+0.017%	$2K	—	100x	as long as short
Reya EIGENRUSDPERP	+0.0514%	1h	0.2429	−0.009%	$848	—	15x	as long as short