Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.035%

Price spread now: Extended against Orderly−0.012%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Extended

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BASED_USDC	0.06868	0.0238	pay 0.0119% / 4h	1h 38m	$3K	$664	10x
Short	Extended BASED-USD	0.06867	0.0104	get 0.0013% / 1h	38m 28s	$1K	$199K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$28.05
Price spread: −0.012% → 0.000%: −$1.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$40.23
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 23 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 23 min ago	0.87 bp	31.6 bp −$32	256.3 bp −$2,563	doesn't fit	doesn't fit

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	−0.364%	$260K	$47K	25x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06869	+0.016%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06861	−0.102%	$2.1M	$684K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06868	0.000%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06862	−0.087%	$537K	$577K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06874	+0.087%	$4.9M	$611K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06860	−0.116%	$568K	$74K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06876	+0.116%	$1.3M	$381K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06869	+0.015%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06816	−0.762%	$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	−0.609%	$96K	$368K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06835	−0.480%	$2K	$879K	20x	as long as short
Extended BASED-USDshort	+0.0104%	1h	0.06867	−0.012%	$1K	$199K	5x
Aster BASEDUSDT	+0.0143%	4h	0.06866	−0.025%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDClong	+0.0238%	4h	0.06868	long leg	$3K	$664	10x