Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h −0.003%

Price spread now: Extended against BloFin−0.215%94s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1671.668% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.284%+$28 · spread now −0.215%, 7d avg −0.051%

Together, before fees+0.287%+ Points / potential airdropExtended: Active · farm board+$29 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 0.164% cheaper against BloFin than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin IO-USDT	0.1516	0.0099	pay 0.0050% / 4h	27m 27s	$192K	$39K	50x
Short	Extended IO-USD	0.1513	0.0104	get 0.0013% / 1h	27m 27s	$2K	$134K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.215%Rate

Funding earned: $1.04
Price spread: −0.215% → −0.051%: −$16.4
Slippage, 4 orders: −$149.77
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$182.13
Costs to cover: 1.668%
Break-even: 1231.0 days

Slippage from BloFin: live order book, 3 min ago; Extended: live order book, 28 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 BloFin live order book, 3 min ago	3.29 bp	9.3 bp −$9	54.0 bp −$540	doesn't fit	doesn't fit
Sell Extended live order book, 28 min ago	5.95 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit

IO 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
BloFin IO-USDTlong	+0.0099%	4h	0.1516	long leg	$192K	$39K	50x
Hyperliquid IO	+0.0100%	1h	0.1513	−0.224%	$1.0M	$373K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1512	−0.258%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1513	−0.198%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1511	−0.310%	$1.1M	$910K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1512	−0.244%	$234K	$550K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1511	−0.330%	$1.2M	$228K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1513	−0.198%	$361K	$644K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1514	−0.132%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1513	−0.198%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1514	−0.149%	$33K	$13K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1513	−0.215%	$2K	$134K	5x
Injective IO/USDC PERP	+0.0583%	1h	0.1505	−0.726%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.7090%	1h	0.1516	−0.020%	$39K	$18K	10x	as long as short