Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Binance against Extended+0.150%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1141.145% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.150%, 7d avg +0.085%

Together, before fees−0.034%+ Points / potential airdropExtended: Active · farm board−$3 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: Binance is 0.065% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.03907	0.0104	pay 0.0013% / 1h	34m 08s	$220K	$877K	10x
Short	Binance SUSDT	0.03913	0.0100	get 0.0050% / 4h	34m 08s	$5.4M	$17.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.150%Rate

Funding earned: −$0.84
Price spread: +0.150% → +0.085%: $6.54
Slippage, 4 orders: −$99.49
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$108.79
Costs to cover: 1.145%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; Binance: 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 Extended live order book, 44 min ago	5.13 bp	36.5 bp −$36	259.4 bp −$2,594	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.27 bp	21.7 bp −$22	57.5 bp −$575	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	−0.6232%	1h	0.03840	−1.718%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2137%	1h	0.03902	−0.128%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.076%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1003%	4h	0.03900	−0.181%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0202% / S +0.0194%	1h	0.03911	+0.109%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03907	+0.005%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03911	+0.109%	$603	—	150x	as long as short
Orderly PERP_S_USDC	+0.0031%	4h	0.03909	+0.048%	$100K	$340K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.937%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03913	+0.150%	$164K	$217K	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	0.03910	+0.074%	$980K	$694K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03921	+0.344%	$43K	$145K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03913	+0.150%	$5.4M	$17.3M	75x
Bybit SUSDT	+0.0100%	4h	0.03908	+0.022%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03912	+0.125%	$977K	$5.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03907	−0.003%	$319K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03909	+0.048%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03910	+0.074%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03913	+0.150%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03910	+0.074%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.074%	$25K	$453K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.03907	long leg	$220K	$877K	10x
Backpack S_USDC_PERP	+0.0231%	1h	0.03920	+0.330%	$114K	$311K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03914	+0.176%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	−0.029%	$267K	$126K	75x	as long as short