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: Bybit against Extended−0.094%7-day average −0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1851.846% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.201%−$20 · spread now −0.094%, 7d avg −0.174%

Together, before fees−0.464%+ Points / potential airdropExtended: Active · farm board−$46 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: Bybit is 0.080% dearer against Extended than usual: you sell high and buy low, +$8 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	Extended H-USD	0.06999	0.0104	pay 0.0013% / 1h	33m 39s	$11K	$107K	5x
Short	Bybit HUSDT	0.06992	0.0100	get 0.0050% / 4h	33m 39s	$7.6M	$4.6M	13x

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

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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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$0.84
Price spread: −0.094% → −0.174%: $8.04
Slippage, 4 orders: −$168.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$177.44
Costs to cover: 1.846%
Break-even: never at this rate

Slippage from Extended: live order book, 42 min ago; Bybit: live order book, 4 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, 42 min ago	2.17 bp	63.5 bp −$64	526.2 bp −$5,262	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.30 bp	44.0 bp −$44	196.3 bp −$1,963	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	−10.697%	$1K	$1	5.5x	as long as short
Aster HUSDT	+0.0100%	4h	0.06994	−0.067%	$116K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.07003	+0.058%	$15.0M	$10.5M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.06992	−0.094%	$7.6M	$4.6M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.07013	+0.205%	$1.7M	$5.9M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06992	−0.095%	$2.9M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.07002	+0.048%	$6.3M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06994	−0.067%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06980	−0.267%	$1.7M	$450K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06999	+0.005%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06976	−0.328%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06986	−0.184%	$1.2M	$438K	10x	as long as short
Extended H-USDlong	+0.0104%	1h	0.06999	long leg	$11K	$107K	5x
BloFin H-USDT	+0.0125%	4h	0.06980	−0.267%	$591K	$116K	25x	as long as short