Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bitget against Extended+0.011%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$1951.946% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now +0.011%, 7d avg +0.091%

Together, before fees+0.208%+ Points / potential airdropExtended: Active · farm board+$21 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: Bitget is 0.080% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1504	0.0104	pay 0.0013% / 1h	41m 18s	$5K	$171K	5x
Short	Bitget IOUSDT	0.1504	0.0100	get 0.0050% / 4h	2h 41m	$1.4M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.84
Price spread: +0.011% → +0.091%: −$7.99
Slippage, 4 orders: −$177.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$203.47
Costs to cover: 1.946%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; Bitget: 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 Extended live order book, 44 min ago	7.30 bp	73.5 bp −$73	520.5 bp −$5,205	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.33 bp	30.3 bp −$30	178.5 bp −$1,785	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
Injective IO/USDC PERP	−0.0157%	1h	0.1503	−0.055%	$2K	$101	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1504	−0.009%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1506	+0.114%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1504	+0.011%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1502	−0.088%	$1.1M	$863K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1506	+0.124%	$230K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1503	−0.055%	$1.1M	$237K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1504	+0.011%	$401K	$654K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1504	+0.011%	$1.4M	$1.1M	50x
BingX IO-USDT	+0.0100%	4h	0.1504	+0.011%	—	$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	0.1502	−0.121%	$30K	$5K	—	as long as short
BloFin IO-USDT	+0.0103%	4h	0.1506	+0.144%	$192K	$30K	50x	as long as short
Extended IO-USDlong	+0.0104%	1h	0.1504	long leg	$5K	$171K	5x
Kraken Futures PF_IOUSD	+0.5463%	1h	0.1505	+0.065%	$39K	$21K	10x	as long as short