Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.001%

Price spread now: Extended against BingX+0.007%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1121.116% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.007%, 7d avg +0.027%

Together, before fees−0.095%+ Points / potential airdropExtended: Active · farm board−$9 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 0.021% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BASED-USDT	0.06897	0.0122	pay 0.0061% / 4h	3h 15m	—	$1.7M	—
Short	Extended BASED-USD	0.06897	0.0128	get 0.0016% / 1h	15m 15s	$4K	$204K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. 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 BingXbpFee ExtendedbpOrdersPrice spread, now +0.007%Rate

Funding earned: $1.26
Price spread: +0.007% → +0.027%: −$2.06
Slippage, 4 orders: −$96.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$112.39
Costs to cover: 1.116%
Break-even: 631.4 days

Slippage from BingX: live order book, 2 min ago; Extended: live order book, 57 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 BingX live order book, 2 min ago	2.90 bp	25.3 bp −$25	87.1 bp −$871	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	1.40 bp	38.1 bp −$38	268.9 bp −$2,689	doesn't fit	doesn't fit

BASED 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
Bybit BASEDUSDT	+0.0100%	4h	0.06890	−0.101%	$2.1M	$602K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06893	−0.058%	$2.6M	$3.6M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06887	−0.145%	$548K	$547K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06894	−0.043%	$574K	$56K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06896	−0.014%	$1.3M	$357K	25x	as long as short
Variational Omni BASED	+0.0100%	4h	0.06877	−0.284%	$94K	$18K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06864	−0.476%	$91K	$382K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06893	−0.058%	$1K	$843K	20x	as long as short
MEXC BASED_USDT	+0.0122%	4h	0.06899	+0.029%	$4.9M	$652K	50x	as long as short
BingX BASED-USDTlong	+0.0122%	4h	0.06897	long leg	—	$1.7M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BASED-USDshort	+0.0128%	1h	0.06897	+0.007%	$4K	$204K	5x
Binance BASEDUSDT	+0.0129%	4h	0.06899	+0.029%	$4.2M	$3.1M	25x	as long as short
BloFin BASED-USDT	+0.0183%	4h	0.06889	−0.116%	$253K	$41K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0297%	4h	0.06899	+0.029%	$3K	$652	10x	as long as short
Aster BASEDUSDT	+0.0398%	4h	0.06890	−0.103%	$29K	$6K	5x	as long as short