Funding arb · Price arb /

RECALL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0812%/8h= +88.9% APRpaid last 24h +0.044%

Price spread now: Extended against Bybit+0.242%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs−$613as in the Funding arb table

Net, price: spread back to 7d avg − costs−$610as in the Price arb table

costs, in and out, $10k−$6186.178% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.242%, 7d avg +0.162%

Together, before fees−0.068%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Extended is 0.079% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.162%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit RECALLUSDT	0.04537	0.0100	pay 0.0050% / 4h	2h 38m	$752K	$237K	25x
Short	Extended RECALL-USD	0.04548	0.0912	get 0.0114% / 1h	38m 50s	$2K	$163K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.242%Rate

Funding earned: $170.52
Price spread: +0.242% → +0.162%: $7.93
Slippage, 4 orders: −$601.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$439.35
Costs to cover: 6.178%
Break-even: 25.0 days

Slippage from Bybit: live order book, 6 min ago; Extended: live order book, 7 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 Bybit live order book, 6 min ago	9.86 bp	309.5 bp −$309	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	7.44 bp	70.2 bp −$70	doesn't fit	doesn't fit	doesn't fit

RECALL on 11 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
Bybit RECALLUSDTlong	+0.0100%	4h	0.04537	long leg	$752K	$237K	25x
Gate RECALL_USDT	+0.0100%	4h	0.04551	+0.309%	$62K	$15K	25x	as long as short
Bitget RECALLUSDT	+0.0100%	4h	0.04538	+0.022%	$710K	$108K	25x	as long as short
Variational Omni RECALL	+0.0100%	4h	0.04550	+0.282%	$6K	$667	—	as long as short
OKX RECALL-USDT-SWAP	+0.0427%	4h	0.04546	+0.198%	$130K	$216K	10x	as long as short
Binance RECALLUSDT	+0.0911%	4h	0.04550	+0.282%	$1.4M	$867K	40x	as long as short
Extended RECALL-USDshort	+0.0912%	1h	0.04548	+0.242%	$2K	$163K	5x
BingX RECALL-USDT	+0.0924%	4h	0.04546	+0.198%	—	$6.6M	—	as long as short
MEXC RECALL_USDT	+0.0926%	4h	0.04549	+0.264%	$497K	$142K	50x	as long as short
Aster RECALLUSDT	+0.1829%	4h	0.04550	+0.283%	$19K	$16K	5x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RECALLUSDTM	+0.2434%	4h	0.04549	+0.264%	$584K	$818K	40x	as long as short