Funding arb · Price arb /

IO

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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: Binance against Extended−0.149%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1831.828% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.149%, 7d avg +0.037%

Together, before fees+0.213%+ Points / potential airdropExtended: Active · farm board+$21 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: Binance is 0.187% cheaper against Extended than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1491	0.0104	pay 0.0013% / 1h	35m 08s	$3K	$215K	5x
Short	Binance IOUSDT	0.1489	0.0100	get 0.0050% / 4h	2h 35m	$2.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.149%Rate

Funding earned: −$0.84
Price spread: −0.149% → +0.037%: −$18.66
Slippage, 4 orders: −$167.82
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$202.31
Costs to cover: 1.828%
Break-even: never at this rate

Slippage from Extended: live order book, 11 min ago; Binance: live order book, 3 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, 11 min ago	7.70 bp	83.7 bp −$84	542.5 bp −$5,425	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	3.37 bp	31.6 bp −$32	123.2 bp −$1,232	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
Hyperliquid IO	+0.0100%	1h	0.1491	−0.044%	$994K	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1490	−0.074%	$23K	$47K	5x	as long as short
Binance IOUSDTshort	+0.0100%	4h	0.1489	−0.149%	$2.9M	$6.5M	50x
Bybit IOUSDT	+0.0100%	4h	0.1488	−0.232%	$1.1M	$901K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1491	−0.018%	$235K	$448K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1490	−0.098%	$1.2M	$234K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1491	−0.031%	$349K	$624K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1492	+0.036%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1490	−0.098%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1486	−0.348%	$30K	$16K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USDlong	+0.0104%	1h	0.1491	long leg	$3K	$215K	5x
BloFin IO-USDT	+0.0122%	4h	0.1492	+0.036%	$194K	$38K	50x	as long as short
Injective IO/USDC PERP	+0.0619%	1h	0.1484	−0.500%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.7535%	1h	0.1486	−0.366%	$38K	$9K	10x	as long as short