Funding arb · Price arb /

VELVET

all VELVET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h −0.103%

Price spread now: Extended against Bybit−0.081%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$2072.067% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.081%, 7d avg −0.092%

Together, before fees−0.125%+ Points / potential airdropExtended: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.124%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.5% 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	Bybit VELVETUSDT	0.05858	0.0100	pay 0.0050% / 4h	3h 30m	$1.6M	$1.4M	5x
Short	Extended VELVET-USD	0.05853	0.0328	get 0.0041% / 1h	30m 17s	$2K	$163K	5x

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

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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 −0.081%Rate

Funding earned: $47.88
Price spread: −0.081% → −0.092%: $1.16
Slippage, 4 orders: −$190.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$157.66
Costs to cover: 2.067%
Break-even: 30.0 days

Slippage from Bybit: live order book, 1 min ago; Extended: live order book, 21 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, 1 min ago	8.54 bp	44.4 bp −$44	2604.6 bp −$26.0K	doesn't fit	doesn't fit
Sell Extended live order book, 21 min ago	6.60 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit

VELVET on 13 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 VELVETUSDT	+0.0100%	4h	0.05844	−0.233%	$9K	$18K	5x	as long as short
Bybit VELVETUSDTlong	+0.0100%	4h	0.05858	long leg	$1.6M	$1.4M	5x
Gate VELVET_USDT	+0.0100%	4h	0.05845	−0.222%	$700K	$906K	10x	as long as short
KuCoin VELVETUSDTM	+0.0100%	4h	0.05838	−0.341%	$927K	$526K	10x	as long as short
Bitget VELVETUSDT	+0.0100%	4h	0.05866	+0.137%	$1.1M	$644K	10x	as long as short
HTX VELVET-USDT	+0.0100%	4h	0.05846	−0.205%	$12K	$23K	20x	as long as short
Variational Omni VELVET	+0.0112%	4h	0.05854	−0.069%	$35K	$51K	—	as long as short
BingX VELVET-USDT	+0.0286%	4h	0.05854	−0.068%	—	$1.4M	—	as long as short
edgeX VELVETUSDC	+0.0286%	4h	0.05839	−0.329%	$2K	$203K	10x	as long as short
MEXC VELVET_USDT	+0.0310%	4h	0.05855	−0.051%	$2.0M	$396K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VELVETUSDT	+0.0327%	4h	0.05856	−0.032%	$4.3M	$5.4M	10x	as long as short
Extended VELVET-USDshort	+0.0328%	1h	0.05853	−0.081%	$2K	$163K	5x
BloFin VELVET-USDT	+0.0550%	4h	0.05843	−0.256%	$260K	$131K	50x	as long as short