Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.092%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1271.268% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.092%, 7d avg +0.032%

Together, before fees−0.034%+ Points / potential airdropExtended: Active · farm board−$3 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: Binance is 0.060% dearer against Extended than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07609	0.0104	pay 0.0013% / 1h	32m 40s	$2K	$213K	5x
Short	Binance LAYERUSDT	0.07616	0.0100	get 0.0050% / 4h	2h 32m	$2.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.092%Rate

Funding earned: −$0.84
Price spread: +0.092% → +0.032%: $5.99
Slippage, 4 orders: −$111.83
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$121.68
Costs to cover: 1.268%
Break-even: never at this rate

Slippage from Extended: live order book, 14 min ago; Binance: live order book, 2 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, 14 min ago	5.55 bp	37.3 bp −$37	289.4 bp −$2,894	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.97 bp	29.9 bp −$30	96.2 bp −$962	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	0.07611	+0.030%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.403%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0043%	4h	0.07619	+0.131%	$114K	$15K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07622	+0.171%	$591K	$164K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07624	+0.200%	$9K	$4K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07616	+0.092%	$2.1M	$2.4M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07608	−0.013%	$711K	$665K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07632	+0.302%	$141K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07611	+0.026%	$370K	$131K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07610	+0.013%	$1.1M	$112K	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	0.07613	+0.052%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07630	+0.276%	$16K	$195K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07609	long leg	$2K	$213K	5x