Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bitget against Extended+0.206%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1961.955% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.206%, 7d avg +0.087%

Together, before fees+0.009%+ Points / potential airdropExtended: Active · farm board+$1 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: Bitget is 0.119% dearer against Extended than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.087%.

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	1m 46s	$1K	$207K	5x
Short	Bitget IOUSDT	0.1494	0.0100	get 0.0050% / 4h	3h 01m	$1.3M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.206%Rate

Funding earned: −$0.84
Price spread: +0.206% → +0.087%: $11.92
Slippage, 4 orders: −$178.53
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$184.44
Costs to cover: 1.955%
Break-even: never at this rate

Slippage from Extended: live order book, 49 min ago; Bitget: live order book, 5 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, 49 min ago	6.30 bp	65.3 bp −$65	502.0 bp −$5,020	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.33 bp	35.6 bp −$36	188.9 bp −$1,889	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	0.1492	+0.039%	$996K	$364K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1492	+0.045%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1492	+0.044%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1489	−0.116%	$1.1M	$901K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1490	−0.035%	$226K	$558K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1490	−0.062%	$1.2M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1492	+0.072%	$352K	$623K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1494	+0.206%	$1.3M	$1.3M	50x
BingX IO-USDT	+0.0100%	4h	0.1492	+0.072%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1498	+0.457%	$32K	$14K	—	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	$1K	$207K	5x
BloFin IO-USDT	+0.0112%	4h	0.1495	+0.273%	$192K	$38K	50x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1502	+0.743%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+1.6782%	1h	0.1497	+0.381%	$39K	$10K	10x	as long as short