Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bitget against Extended+0.007%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1411.412% of the position

Long on Extended Short on Bitget

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)+0.031%+$3 · spread now +0.007%, 7d avg +0.065%

Together, before fees+0.049%+ Points / potential airdropExtended: Active · farm board+$5 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: Bitget is 0.058% cheaper against Extended than usual: you would sell low and buy high, −$6 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	Extended LAYER-USD	0.07632	0.0104	pay 0.0013% / 1h	24m 43s	$2K	$174K	5x
Short	Bitget LAYERUSDT	0.07633	0.0100	get 0.0050% / 4h	1h 24m	$1.1M	$167K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$0.84
Price spread: +0.007% → +0.065%: −$5.82
Slippage, 4 orders: −$124.22
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$147.88
Costs to cover: 1.412%
Break-even: never at this rate

Slippage from Extended: live order book, 56 min ago; Bitget: live order book, 1 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	5.17 bp	30.8 bp −$31	267.9 bp −$2,679	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	9.82 bp	31.6 bp −$32	109.3 bp −$1,093	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	−0.0448%	1h	0.07640	+0.098%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.697%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0093%	4h	0.07635	+0.033%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07639	+0.084%	$589K	$165K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07633	+0.013%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07638	+0.071%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07632	−0.006%	$702K	$661K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07637	+0.059%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07636	+0.046%	$352K	$114K	20x	as long as short
Bitget LAYERUSDTshort	+0.0100%	4h	0.07633	+0.007%	$1.1M	$167K	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	0.07620	−0.163%	$26K	$185K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07632	long leg	$2K	$174K	5x
BingX LAYER-USDT	+0.0176%	4h	0.07643	+0.138%	—	$1.6M	—	as long as short