Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit+0.357%7-day average +0.174% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1791.795% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.263%+$26 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.357%, 7d avg +0.174%

Together, before fees+0.201%+ Points / potential airdropExtended: Active · farm board+$20 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 0.183% dearer against Bybit than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.174%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HUSDT	0.06962	0.0100	pay 0.0050% / 4h	28m 33s	$7.6M	$4.6M	13x
Short	Extended H-USD	0.06987	0.0104	get 0.0013% / 1h	28m 33s	$11K	$107K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.357%Rate

Funding earned: $0.84
Price spread: +0.357% → +0.174%: $18.29
Slippage, 4 orders: −$163.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$160.36
Costs to cover: 1.795%
Break-even: 1343.3 days

Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago	6.43 bp	36.2 bp −$36	192.6 bp −$1,926	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	2.17 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit

H 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−10.227%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0098%	4h	0.06997	+0.503%	$591K	$117K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06992	+0.428%	$116K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06989	+0.388%	$15.0M	$10.5M	10x	as long as short
Bybit HUSDTlong	+0.0100%	4h	0.06962	long leg	$7.6M	$4.6M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.06992	+0.431%	$1.7M	$5.9M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06981	+0.273%	$2.9M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06990	+0.402%	$6.3M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06985	+0.330%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06991	+0.417%	$1.7M	$451K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06989	+0.388%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06976	+0.204%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06991	+0.417%	$1.2M	$438K	10x	as long as short
Extended H-USDshort	+0.0104%	1h	0.06987	+0.357%	$11K	$107K	5x