Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0012%/8hpaid last 24h −0.021%

Price spread now: Extended against Bybit+0.027%7-day average +0.078% · you sell dearer than you buy

to open and close $10k−$135fees + slippage, both legs, in and out

costs, in % of the position1.348%what the two incomes have to cover

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.131%+$13 · spread now +0.027%, 7d avg +0.078%

Together, before fees+0.199%+ Points / potential airdropExtended: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Extended is 0.051% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.078%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.069%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARUSDT	4.4777	0.0100	pay 0.0100% / 8h	4h 41m	$4.6M	$9.3M	75x
Short	Extended AR-USD	4.4789	0.0088	get 0.0011% / 1h	41m 18s	$36K	$237K	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 +0.027%Rate

Funding earned: −$2.52
Price spread: +0.027% → +0.078%: −$5.06
Slippage, 4 orders: −$118.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$142.36
Costs to cover: 1.348%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 10 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, 2 min ago	1.12 bp	32.2 bp −$32	361.6 bp −$3,616	doesn't fit	doesn't fit
Sell Extended live order book, 10 min ago	7.34 bp	28.3 bp −$28	306.4 bp −$3,064	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.2223%	1h	4.4750	−0.061%	$46K	$164K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4832	+0.123%	$576K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.106%	$3K	$376	5.5x	as long as short
Variational Omni AR	+0.0082%	8h	4.4374	−0.899%	$134K	$173K	—	as long as short
MEXC AR_USDT	+0.0086%	8h	4.4810	+0.074%	$6.7M	$5.3M	100x	as long as short
Binance ARUSDT	+0.0087%	8h	4.4800	+0.051%	—	$59.8M	75x	as long as short
Extended AR-USDshort	+0.0088%	1h	4.4789	+0.027%	$36K	$237K	10x
Hyperliquid AR	+0.0100%	1h	4.4883	+0.237%	$3.8M	$5.3M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4807	+0.068%	—	$713K	10x	as long as short
Bybit ARUSDTlong	+0.0100%	8h	4.4777	long leg	$4.6M	$9.3M	75x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AR-USDT-SWAP	+0.0100%	8h	4.4770	−0.016%	$2.3M	$22.3M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4780	+0.007%	$2.5M	$2.4M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4820	+0.096%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4750	−0.060%	$3.8M	$5.9M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4800	+0.051%	—	$2.9M	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4390	−0.864%	$57K	$746K	50x	as long as short
BloFin AR-USDT	+0.0205%	8h	4.4970	+0.431%	$429K	$704K	20x	as long as short