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: Extended against OKX−0.152%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

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

Long on OKX Short on Extended

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)+0.057%+$6 · spread now −0.152%, 7d avg −0.092%

Together, before fees+0.196%+ Points / potential airdropExtended: Active · farm board+$20 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 0.059% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX STABLE-USDT-SWAP	0.02471	0.0100	pay 0.0050% / 4h	2h 39m	$204K	$417K	20x
Short	Extended STABLE-USD	0.02467	0.0104	get 0.0013% / 1h	39m 13s	$12K	$175K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0.84
Price spread: −0.152% → −0.092%: −$5.91
Slippage, 4 orders: −$128.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$148.13
Costs to cover: 1.431%
Break-even: 1241.4 days

Slippage from OKX: live order book, 46 min ago; Extended: live order book, 47 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 OKX live order book, 46 min ago	6.06 bp	32.3 bp −$32	1345.7 bp −$13.5K	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	6.06 bp	37.8 bp −$38	367.6 bp −$3,676	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	−0.0313%	4h	0.02469	−0.081%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0064%	4h	0.02467	−0.162%	$114K	$8K	75x	as long as short
Hyperliquid STABLE	+0.0064%	1h	0.02468	−0.101%	$871K	$234K	3x	as long as short
Bybit STABLEUSDT	+0.0084%	4h	0.02472	+0.040%	$1.5M	$819K	25x	as long as short
Lighter STABLE	+0.0096%	1h	0.02487	+0.664%	$114K	$3K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02468	−0.137%	$2.4M	$2.7M	75x	as long as short
OKX STABLE-USDT-SWAPlong	+0.0100%	4h	0.02471	long leg	$204K	$417K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02469	−0.081%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02469	−0.081%	$659K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02476	+0.202%	$174K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02474	+0.121%	$291K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02473	+0.081%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02473	+0.081%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02469	−0.077%	$2K	$644K	20x	as long as short
Extended STABLE-USDshort	+0.0104%	1h	0.02467	−0.152%	$12K	$175K	10x