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: Gate against Extended−0.049%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$262as in the Funding arb table

Net, price: spread back to 7d avg − costs−$270as in the Price arb table

costs, in and out, $10k−$2612.606% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.049%, 7d avg +0.049%

Together, before fees+0.015%+ Points / potential airdropExtended: Active · farm board+$2 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: Gate is 0.098% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07576	0.0104	pay 0.0013% / 1h	42m 38s	$2K	$174K	5x
Short	Gate LAYER_USDT	0.07572	0.0100	get 0.0050% / 4h	2h 42m	$135K	$54K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.049%Rate

Funding earned: −$0.84
Price spread: −0.049% → +0.049%: −$9.78
Slippage, 4 orders: −$240.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$271.18
Costs to cover: 2.606%
Break-even: never at this rate

Slippage from Extended: live order book, 43 min ago; Gate: live order book, 40 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, 43 min ago	4.34 bp	45.4 bp −$45	316.0 bp −$3,160	doesn't fit	doesn't fit
Sell Gate live order book, 40 min ago	8.56 bp	77.6 bp −$78	doesn't fit	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	+0.034%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−3.983%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0048%	4h	0.07573	−0.036%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07586	+0.136%	$583K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07575	−0.012%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07577	+0.012%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07575	−0.010%	$698K	$643K	20x	as long as short
Gate LAYER_USDTshort	+0.0100%	4h	0.07572	−0.049%	$135K	$54K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07576	+0.004%	$349K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07578	+0.030%	$1.1M	$161K	50x	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	0.07570	−0.076%	$25K	$187K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07576	long leg	$2K	$174K	5x
BingX LAYER-USDT	+0.0149%	4h	0.07580	+0.056%	—	$1.6M	—	as long as short