Funding arb · Price arb /

LAYER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.008%

Price spread now: Extended against BloFin−0.216%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1241.238% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.216%, 7d avg −0.019%

Together, before fees+0.116%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.196% cheaper against BloFin than usual: you would sell low and buy high (spread −0.216% now, against its 7-day average of −0.019%). If the spread goes back, that is −$20 on $10k: about 39 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LAYER-USDT	0.07725	0.0087	pay 0.0044% / 4h	1h 18m	$116K	$14K	50x
Short	Extended LAYER-USD	0.07708	0.0104	get 0.0013% / 1h	18m 51s	$746	$170K	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 −0.216%Rate

Funding earned: $3.56
Price spread: −0.216% → −0.019%: −$19.63
Slippage, 4 orders: −$106.79
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$139.86
Costs to cover: 1.238%
Break-even: 281.7 days

Slippage from BloFin: live order book, 17 min ago; Extended: live order book, 42 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, 17 min ago	0.65 bp	19.8 bp −$20	87.1 bp −$871	doesn't fit	doesn't fit
Sell Extended live order book, 42 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	−0.0417%	1h	0.07712	−0.168%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.838%	—	$18K	5.5x	as long as short
BloFin LAYER-USDTlong	+0.0087%	4h	0.07725	long leg	$116K	$14K	50x
Hyperliquid LAYER	+0.0100%	1h	0.07722	−0.039%	$600K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07715	−0.132%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07710	−0.189%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07697	−0.362%	$722K	$740K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07717	−0.104%	$139K	$50K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07711	−0.181%	$342K	$118K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07705	−0.259%	$1.1M	$165K	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-USDT	+0.0100%	4h	0.07712	−0.168%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07710	−0.194%	$25K	$187K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07708	−0.216%	$746	$170K	5x