Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0013%/8h= −1.5% APRpaid last 24h 0.000%

Price spread now: Extended against BloFin−0.027%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1011.014% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now −0.027%, 7d avg −0.051%

Together, before fees−0.028%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.025% dearer against BloFin than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.051%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BASED-USDT	0.06889	0.0149	pay 0.0075% / 4h	3h 08m	$254K	$41K	25x
Short	Extended BASED-USD	0.06887	0.0136	get 0.0017% / 1h	8m 30s	$4K	$204K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$2.79
Price spread: −0.027% → −0.051%: $2.48
Slippage, 4 orders: −$84.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$101.73
Costs to cover: 1.014%
Break-even: never at this rate

Slippage from BloFin: live order book, 57 min ago; Extended: live order book, 63 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 BloFin live order book, 57 min ago	2.94 bp	16.9 bp −$17	52.5 bp −$525	doesn't fit	doesn't fit
Sell Extended live order book, 63 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	0.06881	−0.116%	$2.1M	$603K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06883	−0.087%	$2.6M	$3.6M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06884	−0.073%	$547K	$551K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06893	+0.058%	$574K	$58K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06893	+0.058%	$1.3M	$356K	25x	as long as short
Variational Omni BASED	+0.0100%	4h	0.06881	−0.118%	$94K	$18K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06861	−0.408%	$91K	$382K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06885	−0.058%	$1K	$843K	20x	as long as short
BingX BASED-USDT	+0.0134%	4h	0.06885	−0.058%	—	$1.7M	—	as long as short
Extended BASED-USDshort	+0.0136%	1h	0.06887	−0.027%	$4K	$204K	5x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BASEDUSDT	+0.0136%	4h	0.06887	−0.029%	$4.2M	$3.1M	25x	as long as short
MEXC BASED_USDT	+0.0138%	4h	0.06888	−0.015%	$4.9M	$652K	50x	as long as short
BloFin BASED-USDTlong	+0.0149%	4h	0.06889	long leg	$254K	$41K	25x
Orderly PERP_BASED_USDC	+0.0294%	4h	0.06888	−0.015%	$3K	$652	10x	as long as short
Aster BASEDUSDT	+0.0408%	4h	0.06887	−0.032%	$29K	$6K	5x	as long as short