Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Extended+0.193%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1431.431% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.193%, 7d avg +0.093%

Together, before fees−0.191%+ Points / potential airdropExtended: Active · farm board−$19 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 0.100% dearer against Extended than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended STABLE-USD	0.02469	0.0104	pay 0.0013% / 1h	48m 30s	$12K	$175K	10x
Short	OKX STABLE-USDT-SWAP	0.02474	0.0100	get 0.0050% / 4h	2h 48m	$204K	$417K	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 +0.193%Rate

Funding earned: −$0.84
Price spread: +0.193% → +0.093%: $9.96
Slippage, 4 orders: −$128.05
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$133.93
Costs to cover: 1.431%
Break-even: never at this rate

Slippage from Extended: live order book, 37 min ago; OKX: live order book, 37 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, 37 min ago	6.06 bp	39.5 bp −$40	336.8 bp −$3,368	doesn't fit	doesn't fit
Sell OKX live order book, 37 min ago	6.06 bp	33.5 bp −$33	2647.8 bp −$26.5K	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
Aster STABLEUSDT	−0.0242%	4h	0.02469	+0.008%	$19K	$7K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02488	+0.776%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02471	+0.068%	$872K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02470	+0.031%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02474	+0.189%	$1.5M	$820K	25x	as long as short
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02474	+0.193%	$204K	$417K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02472	+0.112%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02470	+0.031%	$659K	$156K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02479	+0.396%	$175K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02474	+0.193%	$291K	$116K	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	0.02473	+0.153%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02473	+0.153%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02472	+0.100%	$1K	$643K	20x	as long as short
Extended STABLE-USDlong	+0.0104%	1h	0.02469	long leg	$12K	$175K	10x
BloFin STABLE-USDT	+0.0118%	4h	0.02473	+0.153%	$114K	$8K	75x	as long as short