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

Net, funding: paid 7d − costs−$259as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

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

Long on Gate Short on Extended

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: Extended is 0.098% dearer against Gate than usual: you sell high and buy low, +$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	Gate LAYER_USDT	0.07572	0.0100	pay 0.0050% / 4h	2h 42m	$135K	$54K	20x
Short	Extended LAYER-USD	0.07576	0.0104	get 0.0013% / 1h	42m 37s	$2K	$174K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0.84
Price spread: +0.049% → −0.049%: $9.79
Slippage, 4 orders: −$240.55
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$249.93
Costs to cover: 2.606%
Break-even: 2089.7 days

Slippage from Gate: live order book, 40 min ago; Extended: live order book, 43 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 Gate live order book, 40 min ago	8.56 bp	107.2 bp −$107	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 43 min ago	4.34 bp	30.4 bp −$30	246.9 bp −$2,469	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	+0.083%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−3.936%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0048%	4h	0.07573	+0.013%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07586	+0.185%	$583K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07575	+0.038%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07577	+0.062%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07575	+0.040%	$698K	$643K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07572	long leg	$135K	$54K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07576	+0.053%	$349K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07578	+0.079%	$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	−0.026%	$25K	$187K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07576	+0.049%	$2K	$174K	5x
BingX LAYER-USDT	+0.0149%	4h	0.07580	+0.106%	—	$1.6M	—	as long as short