Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended−0.048%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1171.174% of the position

Long on Extended Short on BingX

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)+0.176%+$18 · spread now −0.048%, 7d avg −0.027%

Together, before fees+0.191%+ Points / potential airdropExtended: Active · farm board+$19 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: BingX is 0.022% cheaper against Extended 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	Extended BASED-USD	0.06783	0.0104	pay 0.0013% / 1h	38m 09s	$5K	$226K	5x
Short	BingX BASED-USDT	0.06780	0.0100	get 0.0050% / 4h	1h 38m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$0.84
Price spread: −0.048% → −0.027%: −$2.18
Slippage, 4 orders: −$102.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$120.44
Costs to cover: 1.174%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; BingX: live order book, 9 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, 44 min ago	1.70 bp	21.6 bp −$22	232.4 bp −$2,324	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	5.18 bp	25.8 bp −$26	84.1 bp −$841	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
BloFin BASED-USDT	+0.0085%	4h	0.06784	+0.010%	$251K	$37K	25x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06780	−0.048%	$4.2M	$2.9M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06775	−0.122%	$2.1M	$578K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06776	−0.107%	$2.6M	$3.4M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06782	−0.019%	$539K	$521K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06782	−0.019%	$4.8M	$645K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06778	−0.078%	$568K	$110K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06788	+0.069%	$1.3M	$361K	25x	as long as short
BingX BASED-USDTshort	+0.0100%	4h	0.06780	−0.048%	—	$1.6M	—
Variational Omni BASED	+0.0100%	4h	0.06774	−0.134%	$92K	$22K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06733	−0.747%	$97K	$354K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06780	−0.048%	$1K	$800K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06783	long leg	$5K	$226K	5x
Aster BASEDUSDT	+0.0148%	4h	0.06782	−0.017%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0335%	4h	0.06786	+0.040%	$3K	$652	10x	as long as short