Funding arb · Price arb /

S

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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 +0.002%

Price spread now: Extended against Binance−0.005%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1261.257% of the position

Long on Binance 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 7 days−0.164%−$16 · spread now −0.005%, 7d avg −0.084%

Together, before fees−0.150%+ Points / potential airdropExtended: Active · farm board−$15 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 0.079% dearer against Binance than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SUSDT	0.04094	0.0100	pay 0.0050% / 4h	1h 43m	$5.7M	$13.9M	75x
Short	Extended S-USD	0.04094	0.0104	get 0.0013% / 1h	43m 28s	$230K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0.84
Price spread: −0.005% → −0.084%: $7.92
Slippage, 4 orders: −$110.69
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$116.93
Costs to cover: 1.257%
Break-even: 981.4 days

Slippage from Binance: live order book, 12 min ago; Extended: live order book, 5 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 Binance live order book, 12 min ago	3.68 bp	24.3 bp −$24	77.7 bp −$777	2420.5 bp −$242.1K	doesn't fit
Sell Extended live order book, 5 min ago	6.12 bp	38.5 bp −$39	254.7 bp −$2,547	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−1.0792%	1h	0.03950	−3.520%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1677%	1h	0.04096	+0.045%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.762%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0306%	4h	0.04092	−0.057%	$634K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04101	+0.168%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04094	−0.013%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04101	+0.180%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.144%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0066%	4h	0.04099	+0.119%	$102K	$333K	10x	as long as short
Lighter S	+0.0096%	1h	0.04101	+0.168%	$171K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04102	+0.185%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04102	+0.180%	$45K	$133K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.04094	long leg	$5.7M	$13.9M	75x
Bybit SUSDT	+0.0100%	4h	0.04086	−0.198%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04094	−0.003%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04094	−0.003%	$336K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04094	−0.003%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04095	+0.022%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04096	+0.046%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04097	+0.070%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04090	−0.101%	$25K	$449K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.04094	−0.005%	$230K	$1.1M	10x
BloFin S-USDT	+0.0340%	4h	0.04088	−0.149%	$280K	$111K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0482%	1h	0.04104	+0.241%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1463%	1h	0.04110	+0.388%	$121K	$359K	5x	as long as short