Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Extended+0.093%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$591as in the Funding arb table

Net, price: spread back to 7d avg − costs−$585as in the Price arb table

costs, in and out, $10k−$5945.937% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.093%, 7d avg +0.002%

Together, before fees−0.045%+ Points / potential airdropExtended: Active · farm board−$4 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: Gate is 0.091% dearer against Extended than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1514	0.0104	pay 0.0013% / 1h	10m 03s	$3K	$132K	5x
Short	Gate IO_USDT	0.1515	0.0100	get 0.0050% / 4h	2h 10m	$234K	$561K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.093%Rate

Funding earned: −$0.84
Price spread: +0.093% → +0.002%: $9.13
Slippage, 4 orders: −$573.67
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$585.38
Costs to cover: 5.937%
Break-even: never at this rate

Slippage from Extended: live order book, 56 min ago; Gate: live order book, 56 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, 56 min ago	6.57 bp	55.0 bp −$55	478.1 bp −$4,781	doesn't fit	doesn't fit
Sell Gate live order book, 56 min ago	5.27 bp	258.9 bp −$259	doesn't fit	doesn't fit	doesn't fit

IO on 13 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
Hyperliquid IO	+0.0100%	1h	0.1513	−0.032%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1517	+0.210%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1514	+0.031%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1514	+0.007%	$1.1M	$913K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1515	+0.093%	$234K	$561K	50x
MEXC IO_USDT	+0.0100%	4h	0.1515	+0.073%	$1.2M	$231K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1517	+0.205%	$355K	$679K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1517	+0.205%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1515	+0.073%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1516	+0.122%	$33K	$13K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USDlong	+0.0104%	1h	0.1514	long leg	$3K	$132K	5x
Injective IO/USDC PERP	+0.1587%	1h	0.1517	+0.205%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1590%	1h	0.1517	+0.188%	$39K	$18K	10x	as long as short