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 −0.052%

Price spread now: OKX against Extended+0.064%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1341.341% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.064%, 7d avg +0.042%

Together, before fees−0.158%+ Points / potential airdropExtended: Active · farm board−$16 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: OKX is 0.021% dearer against Extended than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.03940	0.0104	pay 0.0013% / 1h	56m 20s	$221K	$877K	10x
Short	OKX S-USDT-SWAP	0.03943	0.0100	get 0.0050% / 4h	56m 20s	$983K	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$0.84
Price spread: +0.064% → +0.042%: $2.13
Slippage, 4 orders: −$119.13
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$132.83
Costs to cover: 1.341%
Break-even: never at this rate

Slippage from Extended: live order book, 22 min ago; OKX: live order book, 1 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, 22 min ago	5.13 bp	36.5 bp −$36	259.4 bp −$2,594	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.27 bp	34.1 bp −$34	doesn't fit	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	−0.6672%	1h	0.03840	−2.550%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2123%	1h	0.03929	−0.299%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.906%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0969%	4h	0.03905	−0.889%	$608K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0199% / S +0.0192%	1h	0.03945	+0.107%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03941	+0.018%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03945	+0.104%	$608	—	150x	as long as short
Orderly PERP_S_USDC	+0.0032%	4h	0.03945	+0.114%	$100K	$342K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.048%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03946	+0.140%	$165K	$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	0.03943	+0.076%	$988K	$714K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03944	+0.081%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03943	+0.066%	$5.4M	$17.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03937	−0.089%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03943	+0.064%	$983K	$5.3M	20x
Gate S_USDT	+0.0100%	4h	0.03935	−0.139%	$321K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03942	+0.038%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03938	−0.063%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03945	+0.114%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03938	−0.063%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.520%	$25K	$453K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.03940	long leg	$221K	$877K	10x
BloFin S-USDT	+0.0340%	4h	0.03928	−0.317%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0413%	1h	0.03940	−0.012%	$115K	$302K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0513%	1h	0.03937	−0.089%	$66K	$10K	10x	as long as short