Funding arb · Price arb /

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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: OKX against Extended+0.022%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1391.395% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now +0.022%, 7d avg −0.008%

Together, before fees+0.146%+ Points / potential airdropExtended: Active · farm board+$15 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: OKX is 0.030% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07684	0.0104	pay 0.0013% / 1h	33m 21s	$746	$170K	5x
Short	OKX LAYER-USDT-SWAP	0.07686	0.0100	get 0.0050% / 4h	1h 33m	$719K	$738K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$0.84
Price spread: +0.022% → −0.008%: $3.03
Slippage, 4 orders: −$124.49
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$137.3
Costs to cover: 1.395%
Break-even: never at this rate

Slippage from Extended: live order book, 28 min ago; OKX: live order book, 28 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, 28 min ago	3.98 bp	32.8 bp −$33	283.8 bp −$2,838	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	2.61 bp	34.4 bp −$34	doesn't fit	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	−0.0418%	1h	0.07689	+0.064%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.339%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07701	+0.219%	$598K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07686	+0.020%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07688	+0.054%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07686	+0.022%	$719K	$738K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07686	+0.022%	$138K	$50K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07688	+0.048%	$341K	$117K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07691	+0.087%	$1.1M	$166K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07695	+0.139%	—	$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	0.07680	−0.056%	$25K	$186K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07684	long leg	$746	$170K	5x
BloFin LAYER-USDT	+0.0111%	4h	0.07675	−0.121%	$115K	$14K	50x	as long as short