Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit−0.146%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1501.503% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.146%, 7d avg −0.106%

Together, before fees+0.262%+ Points / potential airdropExtended: Active · farm board+$26 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 0.040% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02520	0.0100	pay 0.0050% / 4h	3h 43m	$1.5M	$789K	25x
Short	Extended STABLE-USD	0.02516	0.0104	get 0.0013% / 1h	43m 25s	$12K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.146%Rate

Funding earned: $0.84
Price spread: −0.146% → −0.106%: −$3.98
Slippage, 4 orders: −$134.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$153.48
Costs to cover: 1.503%
Break-even: 1286.0 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 28 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 Bybit live order book, 3 min ago	5.96 bp	36.0 bp −$36	400.0 bp −$4,000	doesn't fit	doesn't fit
Sell Extended live order book, 28 min ago	5.75 bp	35.2 bp −$35	283.8 bp −$2,838	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02528	+0.337%	$116K	$8K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02517	−0.123%	$887K	$221K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02516	−0.157%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02516	−0.139%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02520	long leg	$1.5M	$789K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02518	−0.071%	$206K	$446K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02518	−0.071%	$175K	$71K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02517	−0.111%	$625K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02521	+0.048%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02515	−0.190%	$294K	$118K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02516	−0.151%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02515	−0.186%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02514	−0.218%	$2K	$765K	20x	as long as short
Extended STABLE-USDshort	+0.0104%	1h	0.02516	−0.146%	$12K	$177K	10x
BloFin STABLE-USDT	+0.0145%	4h	0.02518	−0.071%	$115K	$8K	75x	as long as short