Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Extended−0.041%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2432.426% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.041%, 7d avg 0.000%

Together, before fees+0.095%+ Points / potential airdropExtended: Active · farm board+$9 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: Gate is 0.041% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1492	0.0104	pay 0.0013% / 1h	39m 12s	$3K	$212K	5x
Short	Gate IO_USDT	0.1491	0.0100	get 0.0050% / 4h	39m 12s	$231K	$472K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.041%Rate

Funding earned: −$0.84
Price spread: −0.041% → 0.000%: −$4.08
Slippage, 4 orders: −$222.61
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$247.53
Costs to cover: 2.426%
Break-even: never at this rate

Slippage from Extended: live order book, 62 min ago; Gate: live order book, 62 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, 62 min ago	6.37 bp	62.6 bp −$63	501.6 bp −$5,016	doesn't fit	doesn't fit
Sell Gate live order book, 62 min ago	7.71 bp	66.5 bp −$66	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
Hyperliquid IO	+0.0100%	1h	0.1491	−0.014%	$1.0M	$274K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1492	+0.007%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1492	+0.021%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1489	−0.148%	$1.1M	$648K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1491	−0.041%	$231K	$472K	50x
MEXC IO_USDT	+0.0100%	4h	0.1489	−0.175%	$1.2M	$216K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1490	−0.108%	$336K	$195K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1494	+0.161%	$1.4M	$985K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1491	−0.041%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1491	−0.027%	$30K	$18K	—	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	0.1492	long leg	$3K	$212K	5x
BloFin IO-USDT	+0.0141%	4h	0.1491	−0.041%	$192K	$34K	50x	as long as short
Injective IO/USDC PERP	+0.0563%	1h	0.1491	−0.041%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.5938%	1h	0.1494	+0.167%	$39K	$7K	10x	as long as short