Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0133%/8h= +14.5% APRpaid last 24h +0.035%

Price spread now: Orderly against Extended−0.147%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.147% cheaper against Extended than usual: you would sell low and buy high (spread −0.147% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 3.7 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BASED-USD	0.06847	0.0104	pay 0.0013% / 1h	38m 47s	$1K	$199K	5x
Short	Orderly PERP_BASED_USDC	0.06837	0.0237	get 0.0118% / 4h	1h 38m	$3K	$664	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.147%Rate

Funding earned: $27.83
Price spread: −0.147% → 0.000%: −$14.73
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.1
Costs to cover: 0.110%
Break-even: 6.5 days

Slippage unknown: Extended: live order book, 23 min ago; Orderly: no order-book sample. Net counts fees only.

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, 23 min ago	0.87 bp	35.4 bp −$35	245.7 bp −$2,457	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0079%	4h	0.06843	−0.060%	$260K	$47K	25x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06877	+0.437%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06865	+0.262%	$2.1M	$683K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06874	+0.393%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06846	−0.016%	$536K	$575K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06880	+0.481%	$4.9M	$611K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06855	+0.116%	$567K	$74K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06870	+0.335%	$1.3M	$379K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06864	+0.247%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06816	−0.459%	$94K	$15K	—	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	0.06826	−0.305%	$96K	$368K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06835	−0.176%	$2K	$879K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06847	long leg	$1K	$199K	5x
Aster BASEDUSDT	+0.0143%	4h	0.06840	−0.103%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDCshort	+0.0237%	4h	0.06837	−0.147%	$3K	$664	10x