Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bitget−0.107%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1381.375% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.107%, 7d avg −0.065%

Together, before fees+0.017%+ Points / potential airdropExtended: Active · farm board+$2 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 0.041% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LAYERUSDT	0.07706	0.0100	pay 0.0050% / 4h	3h 16m	$1.1M	$167K	50x
Short	Extended LAYER-USD	0.07698	0.0104	get 0.0013% / 1h	16m 10s	$2K	$176K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0.84
Price spread: −0.107% → −0.065%: −$4.14
Slippage, 4 orders: −$120.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$140.81
Costs to cover: 1.375%
Break-even: 1180.5 days

Slippage from Bitget: live order book, 5 min ago; Extended: live order book, 55 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 Bitget live order book, 5 min ago	9.72 bp	28.3 bp −$28	202.8 bp −$2,028	doesn't fit	doesn't fit
Sell Extended live order book, 55 min ago	3.91 bp	36.5 bp −$37	258.5 bp −$2,585	doesn't fit	doesn't fit

LAYER on 13 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_LAYERUSD	−0.0783%	1h	0.07710	+0.049%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.606%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07715	+0.110%	$600K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07691	−0.200%	$9K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07703	−0.045%	$2.1M	$2.5M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07700	−0.078%	$714K	$696K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07687	−0.247%	$137K	$53K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07706	0.000%	$345K	$118K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07706	long leg	$1.1M	$167K	50x
BingX LAYER-USDT	+0.0100%	4h	0.07704	−0.026%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07710	+0.052%	$26K	$182K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07698	−0.107%	$2K	$176K	5x
BloFin LAYER-USDT	+0.0131%	4h	0.07712	+0.078%	$114K	$14K	50x	as long as short