Funding arb · Price arb /

LAYER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h −0.008%

Price spread now: BloFin against Extended+0.035%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1111.111% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.025%−$2 · spread now +0.035%, 7d avg +0.014%

Together, before fees−0.053%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.020% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07694	0.0104	pay 0.0013% / 1h	46m 24s	$2K	$176K	5x
Short	BloFin LAYER-USDT	0.07697	0.0158	get 0.0079% / 4h	3h 46m	$113K	$14K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.035%Rate

Funding earned: $11.29
Price spread: +0.035% → +0.014%: $2.04
Slippage, 4 orders: −$94.11
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$97.79
Costs to cover: 1.111%
Break-even: 67.6 days

Slippage from Extended: live order book, 25 min ago; BloFin: live order book, 9 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, 25 min ago	3.91 bp	40.4 bp −$40	316.6 bp −$3,166	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	4.54 bp	10.8 bp −$11	27.8 bp −$278	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	−0.0784%	1h	0.07698	+0.046%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.463%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07708	+0.176%	$596K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07694	−0.007%	$9K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07695	+0.009%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07696	+0.022%	$708K	$693K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07697	+0.035%	$137K	$52K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07694	−0.004%	$341K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07703	+0.112%	$1.1M	$165K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07701	+0.086%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07690	−0.056%	$26K	$183K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07694	long leg	$2K	$176K	5x
BloFin LAYER-USDTshort	+0.0158%	4h	0.07697	+0.035%	$113K	$14K	50x