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: Extended against Bitget−0.030%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1211.214% of the position

Long on Bitget 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)+0.029%+$3 · spread now −0.030%, 7d avg −0.065%

Together, before fees+0.010%+ Points / potential airdropExtended: Active · farm board+$1 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% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LAYERUSDT	0.07578	0.0100	pay 0.0050% / 4h	2h 42m	$1.1M	$161K	50x
Short	Extended LAYER-USD	0.07576	0.0104	get 0.0013% / 1h	42m 38s	$2K	$174K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0.84
Price spread: −0.030% → −0.065%: $3.52
Slippage, 4 orders: −$104.36
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$117
Costs to cover: 1.214%
Break-even: 982.0 days

Slippage from Bitget: live order book, 4 min ago; Extended: live order book, 43 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 Bitget live order book, 4 min ago	2.64 bp	22.9 bp −$23	155.4 bp −$1,554	doesn't fit	doesn't fit
Sell Extended live order book, 43 min ago	4.34 bp	30.4 bp −$30	246.9 bp −$2,469	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	−0.0468%	1h	0.07578	+0.004%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.012%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0048%	4h	0.07573	−0.066%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07586	+0.106%	$583K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07575	−0.042%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07577	−0.017%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07575	−0.040%	$698K	$643K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07572	−0.079%	$135K	$54K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07576	−0.026%	$349K	$114K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07578	long leg	$1.1M	$161K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07570	−0.106%	$25K	$187K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07576	−0.030%	$2K	$174K	5x
BingX LAYER-USDT	+0.0149%	4h	0.07580	+0.026%	—	$1.6M	—	as long as short