Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h 0.000%

Price spread now: Extended against BloFin−0.086%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1691.692% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.124%+$12 · spread now −0.086%, 7d avg −0.059%

Together, before fees+0.128%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.027% cheaper against BloFin than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of −0.059%). If the spread goes back, that is −$3 on $10k: about 3.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.005% in total) that is about 41 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin IO-USDT	0.1513	0.0079	pay 0.0040% / 4h	1h 07m	$194K	$31K	50x
Short	Extended IO-USD	0.1512	0.0104	get 0.0013% / 1h	7m 13s	$5K	$171K	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 −0.086%Rate

Funding earned: $5.23
Price spread: −0.086% → −0.059%: −$2.73
Slippage, 4 orders: −$152.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$166.74
Costs to cover: 1.692%
Break-even: 230.2 days

Slippage from BloFin: live order book, 3 min ago; Extended: 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 BloFin live order book, 3 min ago	3.31 bp	13.6 bp −$14	48.5 bp −$485	doesn't fit	doesn't fit
Sell Extended live order book, 9 min ago	5.62 bp	70.2 bp −$70	doesn't fit	doesn't fit	doesn't fit

IO 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
Kraken Futures PF_IOUSD	−0.0639%	1h	0.1516	+0.174%	$39K	$21K	10x	as long as short
BloFin IO-USDTlong	+0.0079%	4h	0.1513	long leg	$194K	$31K	50x
Hyperliquid IO	+0.0100%	1h	0.1512	−0.033%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1512	−0.082%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1512	−0.066%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1509	−0.264%	$1.1M	$875K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1511	−0.112%	$247K	$550K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1511	−0.132%	$1.1M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1511	−0.132%	$399K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1512	−0.066%	$1.3M	$1.2M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1510	−0.198%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1508	−0.344%	$30K	$5K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1512	−0.086%	$5K	$171K	5x
Injective IO/USDC PERP	+0.0163%	1h	0.1514	+0.066%	$2K	$106	5.5x	as long as short