Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.033%

Price spread now: OKX against Extended+0.066%7-day average −0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$930.928% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.166%−$17 · spread now +0.066%, 7d avg −0.074%

Together, before fees−0.184%+ Points / potential airdropExtended: Active · farm board−$18 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 0.140% dearer against Extended than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.2862	0.0104	pay 0.0013% / 1h	8m 14s	$39K	$239K	10x
Short	OKX AR-USDT-SWAP	4.2890	0.0100	get 0.0100% / 8h	8m 14s	$2.2M	$14.9M	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 +0.066%Rate

Funding earned: −$0.84
Price spread: +0.066% → −0.074%: $14.02
Slippage, 4 orders: −$77.76
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$79.59
Costs to cover: 0.928%
Break-even: never at this rate

Slippage from Extended: live order book, 28 min ago; OKX: live order book, 5 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, 28 min ago	4.35 bp	26.6 bp −$27	267.7 bp −$2,677	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.51 bp	17.5 bp −$17	109.0 bp −$1,090	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	−0.1515%	1h	4.2839	−0.052%	$53K	$135K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2907	+0.105%	$551K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.216%	$2K	$5K	5.5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2876	+0.034%	$32K	$278K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2876	+0.034%	$8.5M	$45.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2889	+0.064%	$4.4M	$8.4M	75x	as long as short
OKX AR-USDT-SWAPshort	+0.0100%	8h	4.2890	+0.066%	$2.2M	$14.9M	20x
Gate AR_USDT	+0.0100%	8h	4.2830	−0.074%	$2.0M	$3.2M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2870	+0.019%	$6.0M	$4.0M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.2860	−0.004%	$1.1M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.2880	+0.043%	$3.7M	$5.0M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2910	+0.113%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2750	−0.261%	$245K	$514K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2780	−0.191%	$20K	$710K	50x	as long as short
Extended AR-USDlong	+0.0104%	1h	4.2862	long leg	$39K	$239K	10x
BloFin AR-USDT	+0.0220%	8h	4.2760	−0.237%	$411K	$443K	20x	as long as short
Hyperliquid AR	+0.0369%	1h	4.2937	+0.176%	$3.9M	$4.5M	5x	as long as short