Funding arb · Price arb /

SAPIEN

all SAPIEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.011%

Price spread now: Extended against KuCoin−0.034%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$710as in the Funding arb table

Net, price: spread back to 7d avg − costs−$699as in the Price arb table

costs, in and out, $10k−$7027.023% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.034%, 7d avg −0.069%

Together, before fees−0.066%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.035% dearer against KuCoin than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.069%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.077% in total) that is about 3.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% 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	KuCoin SAPIENUSDTM	0.07991	0.0348	pay 0.0174% / 4h	3h 00m	$712K	$2.8M	30x
Short	Extended SAPIEN-USD	0.07988	0.0104	get 0.0013% / 1h	0m 49s	$1K	$218K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$51.24
Price spread: −0.034% → −0.069%: $3.47
Slippage, 4 orders: −$685.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$750.12
Costs to cover: 7.023%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Extended: live order book, 30 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 KuCoin live order book, 6 min ago	10.63 bp	256.2 bp −$256	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	4.88 bp	73.1 bp −$73	doesn't fit	doesn't fit	doesn't fit

SAPIEN on 12 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
Aster SAPIENUSDT	+0.0100%	4h	0.07989	−0.023%	$46K	$4K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07990	−0.007%	$2.0M	$1.1M	25x	as long as short
Bybit SAPIENUSDT	+0.0100%	4h	0.08001	+0.125%	$508K	$96K	20x	as long as short
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.08004	+0.163%	$170K	$82K	10x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07990	−0.013%	$9.4M	$108K	50x	as long as short
Bitget SAPIENUSDT	+0.0100%	4h	0.07989	−0.025%	$603K	$306K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07997	+0.075%	—	$6.5M	—	as long as short
Variational Omni SAPIEN	+0.0100%	4h	0.08000	+0.107%	$9K	$4K	—	as long as short
BloFin SAPIEN-USDT	+0.0103%	4h	0.07999	+0.100%	$90K	$16K	25x	as long as short
Extended SAPIEN-USDshort	+0.0104%	1h	0.07988	−0.034%	$1K	$218K	5x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SAPIENUSDTMlong	+0.0348%	4h	0.07991	long leg	$712K	$2.8M	30x
Gate SAPIEN_USDT	+0.1298%	4h	0.07999	+0.100%	$882K	$71K	50x	as long as short