Funding arb · Price arb /

LAYER

all LAYER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against BingX−0.099%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1331.332% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.099%, 7d avg −0.063%

Together, before fees+0.189%+ Points / potential airdropExtended: Active · farm board+$19 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 0.035% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07638	0.0100	pay 0.0050% / 4h	57m 43s	—	$1.6M	—
Short	Extended LAYER-USD	0.07630	0.0104	get 0.0013% / 1h	57m 43s	$742	$170K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. 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 BingXbpFee ExtendedbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0.84
Price spread: −0.099% → −0.063%: −$3.52
Slippage, 4 orders: −$118.18
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$135.86
Costs to cover: 1.332%
Break-even: 1139.1 days

Slippage from BingX: live order book, 3 min ago; Extended: live order book, 63 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 BingX live order book, 3 min ago	5.88 bp	21.6 bp −$22	138.1 bp −$1,381	643.6 bp −$64.4K	841.7 bp −$420.9K
Sell Extended live order book, 63 min ago	3.98 bp	43.4 bp −$43	282.0 bp −$2,820	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0511%	1h	0.07651	+0.173%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.766%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0090%	4h	0.07631	−0.092%	$116K	$16K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07645	+0.089%	$594K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07644	+0.080%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07632	−0.074%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07622	−0.209%	$715K	$733K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07656	+0.236%	$138K	$46K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07637	−0.013%	$338K	$116K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07640	+0.026%	$1.1M	$168K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDTlong	+0.0100%	4h	0.07638	long leg	—	$1.6M	—
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+0.026%	$16K	$191K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07630	−0.099%	$742	$170K	5x