Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.066%

Price spread now: Extended against BloFin−0.041%94s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1071.072% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

Price spread, last 3 days (all we have)+0.225%+$22 · spread now −0.041%, 7d avg −0.039%

Together, before fees−0.034%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.03934	0.0340	pay 0.0170% / 4h	1h 43m	$268K	$128K	75x
Short	Extended S-USD	0.03932	0.0104	get 0.0013% / 1h	43m 28s	$221K	$881K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$49.56
Price spread: −0.041% → −0.039%: −$0.21
Slippage, 4 orders: −$90.22
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$156.98
Costs to cover: 1.072%
Break-even: never at this rate

Slippage from BloFin: live order book, 33 min ago; Extended: 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 BloFin live order book, 33 min ago	2.54 bp	15.8 bp −$16	35.1 bp −$351	doesn't fit	doesn't fit
Sell Extended live order book, 40 min ago	3.83 bp	42.2 bp −$42	276.1 bp −$2,761	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
Kraken Futures PF_SUSD	−0.1591%	1h	0.03929	−0.139%	$33K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.745%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0862%	4h	0.03922	−0.302%	$611K	$32K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0188%	1h	0.03936	+0.051%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03931	−0.065%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0024%	1h	0.03930	−0.102%	$24K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	+0.062%	$607	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03938	+0.102%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03933	−0.025%	$100K	$348K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.220%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0048%	4h	0.03933	−0.015%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03939	+0.127%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03932	−0.041%	$987K	$787K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03933	−0.015%	$5.4M	$20.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03926	−0.203%	$5.6M	$5.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03932	−0.051%	$981K	$6.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03925	−0.229%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03933	−0.025%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03927	−0.178%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03935	+0.025%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03931	−0.076%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.102%	$25K	$466K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.03932	−0.041%	$221K	$881K	10x
BloFin S-USDTlong	+0.0340%	4h	0.03934	long leg	$268K	$128K	75x
Backpack S_USDC_PERP	+0.0356%	1h	0.03940	+0.153%	$115K	$300K	5x	as long as short