Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Gate+0.090%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$572as in the Funding arb table

Net, price: spread back to 7d avg − costs−$560as in the Price arb table

costs, in and out, $10k−$5695.694% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now +0.090%, 7d avg −0.001%

Together, before fees−0.244%+ Points / potential airdropExtended: Active · farm board−$24 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 0.091% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1522	0.0100	pay 0.0050% / 4h	1h 33m	$234K	$560K	50x
Short	Extended IO-USD	0.1524	0.0104	get 0.0013% / 1h	33m 16s	$1K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0.84
Price spread: +0.090% → −0.001%: $9.13
Slippage, 4 orders: −$549.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$559.41
Costs to cover: 5.694%
Break-even: 4668.8 days

Slippage from Gate: live order book, 28 min ago; Extended: live order book, 27 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 Gate live order book, 28 min ago	5.28 bp	237.6 bp −$238	17002.5 bp −$170.0K	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	6.27 bp	57.9 bp −$58	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
Injective IO/USDC PERP	−0.0430%	1h	0.1518	−0.276%	$2K	$201	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1525	+0.164%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1523	+0.060%	$24K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1524	+0.118%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1522	+0.013%	$1.1M	$914K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1522	long leg	$234K	$560K	50x
MEXC IO_USDT	+0.0100%	4h	0.1523	+0.053%	$1.2M	$226K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1523	+0.053%	$356K	$659K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1525	+0.184%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1523	+0.053%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1517	−0.361%	$33K	$13K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1524	+0.090%	$1K	$132K	5x
BloFin IO-USDT	+0.0151%	4h	0.1525	+0.184%	$194K	$40K	50x	as long as short
Kraken Futures PF_IOUSD	+2.3363%	1h	0.1520	−0.130%	$39K	$18K	10x	as long as short