Funding arb · Price arb /

TER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against Binance−0.248%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.248% cheaper against Binance than usual: you would sell low and buy high (spread −0.248% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 21 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TERUSDT	376.35	0	get 0.0000% / 8h	1h 32m	$521K	$1.0M	25x
Short	Extended TER_24_5-USD	375.42	0.0040	get 0.0005% / 1h	32m 51s	$35K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.248%Rate

Funding earned: $8.4
Price spread: −0.248% → 0.000%: −$24.77
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$31.37
Costs to cover: 0.150%
Break-even: 33.1 days

Slippage unknown: Binance: live order book, 75 min ago; Extended: no order-book sample. Net counts fees only.

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 Binance live order book, 75 min ago	3.56 bp	26.3 bp −$26	102.0 bp −$1,020	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TER on 10 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
Bitget TERUSDT	−0.0250%	8h	376.47	+0.031%	$249K	$152K	20x	as long as short
Binance TERUSDTlong	0.0000%	8h	376.35	long leg	$521K	$1.0M	25x
Bybit TERUSDT	0.0000%	8h	376.45	+0.026%	$250K	$183K	25x	as long as short
OKX TER-USDT-SWAP	0.0000%	8h	376.61	+0.068%	$204K	$178K	20x	as long as short
Gate TER_USDT	0.0000%	8h	376.90	+0.146%	$293K	$215K	20x	as long as short
Variational Omni TER	0.0000%	8h	376.37	+0.006%	$48K	$52K	—	as long as short
Extended TER_24_5-USDshort	+0.0040%	1h	375.42	−0.248%	$35K	$4K	10x
KuCoin TERUSDTM	+0.0100%	8h	376.35	−0.001%	$228K	$88K	20x	as long as short
HTX TER-USDT	+0.0100%	8h	376.42	+0.018%	$3K	$39K	10x	as long as short
Paragon para:TER	+0.1260%	1h	377.72	+0.363%	$120K	$54K	10x	as long as short