Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Extended−0.135%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1391.395% of the position

Long on Extended Short on OKX

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)+0.289%+$29 · spread now −0.135%, 7d avg −0.008%

Together, before fees+0.303%+ Points / potential airdropExtended: Active · farm board+$30 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: OKX is 0.127% cheaper against Extended than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07708	0.0104	pay 0.0013% / 1h	19m 01s	$746	$170K	5x
Short	OKX LAYER-USDT-SWAP	0.07698	0.0100	get 0.0050% / 4h	1h 19m	$722K	$740K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$0.84
Price spread: −0.135% → −0.008%: −$12.7
Slippage, 4 orders: −$124.49
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$153.03
Costs to cover: 1.395%
Break-even: never at this rate

Slippage from Extended: live order book, 42 min ago; OKX: 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 Extended live order book, 42 min ago	3.98 bp	32.8 bp −$33	283.8 bp −$2,838	doesn't fit	doesn't fit
Sell OKX live order book, 42 min ago	2.61 bp	34.4 bp −$34	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	−0.0417%	1h	0.07712	+0.047%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.635%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0087%	4h	0.07725	+0.215%	$116K	$14K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07722	+0.176%	$600K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07715	+0.085%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07710	+0.026%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07698	−0.135%	$722K	$740K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07717	+0.111%	$139K	$50K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07710	+0.021%	$342K	$118K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07705	−0.044%	$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	+0.047%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07710	+0.021%	$25K	$187K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07708	long leg	$746	$170K	5x