Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit+0.010%7-day average +0.169% · you sell dearer than you buy

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2052.045% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 4 days (all we have)+0.243%+$24 · spread now +0.010%, 7d avg +0.169%

Together, before fees+0.492%+ Points / potential airdropExtended: Active · farm board+$49 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 0.159% cheaper against Bybit than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.169%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HUSDT	0.06881	0.0100	pay 0.0050% / 4h	2h 27m	$7.6M	$4.9M	13x
Short	Extended H-USD	0.06881	0.0104	get 0.0013% / 1h	27m 01s	$9K	$97K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0.84
Price spread: +0.010% → +0.169%: −$15.86
Slippage, 4 orders: −$188.54
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$219.55
Costs to cover: 2.045%
Break-even: 1836.6 days

Slippage from Bybit: live order book, 1 min ago; Extended: live order book, 71 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 Bybit live order book, 1 min ago	0.73 bp	34.7 bp −$35	170.7 bp −$1,707	doesn't fit	doesn't fit
Sell Extended live order book, 71 min ago	2.94 bp	83.6 bp −$84	doesn't fit	doesn't fit	doesn't fit

H on 14 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−9.164%	$1K	$1	5.5x	as long as short
Aster HUSDT	+0.0100%	4h	0.06890	+0.132%	$112K	$55K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06883	+0.036%	$14.7M	$11.0M	10x	as long as short
Bybit HUSDTlong	+0.0100%	4h	0.06881	long leg	$7.6M	$4.9M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.06885	+0.065%	$1.8M	$6.4M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06879	−0.022%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06885	+0.065%	$6.1M	$1.2M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06877	−0.051%	$1.6M	$10.1M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06883	+0.036%	$1.7M	$447K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06886	+0.080%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06855	−0.364%	$8K	$5K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06878	−0.032%	$1.1M	$438K	10x	as long as short
Extended H-USDshort	+0.0104%	1h	0.06881	+0.010%	$9K	$97K	5x
BloFin H-USDT	+0.0131%	4h	0.06890	+0.138%	$588K	$112K	25x	as long as short